Favorite security guard Jose Alvarado lives in New Orleans.
The Pelicans agreed to a two-year, $9 million deal for Alvarado — with a player option in the second year — story broken by Shams Charania of The Football Club. Alvarado is under contract for this upcoming season at just under $2 million, then he will earn more than double that next season, with a player option for 2026-27.
Alvarado averaged 7.1 points per game last season off the bench, shooting 37.7% from 3, and he finished sixth in Sixth Man of the Year voting. This season he will back up Dejounte Murray at the point (CJ McCollum is likely getting some minutes at the point during the season as well).
Of course, what “Grand Theft Alvarado” is best known for are sneaky backdoor heists.
This is a good deal for the Pelicans, keeping a quality backup point guard at a good price. It’s also a big raise for Alvarado, and he can come back on the market in a few seasons if he wants to.
