Key facts
- Jose Alvarado is returning to the New York Knicks.
- Alvarado has signed a three-year contract.
- The contract is worth over $14 million.
- Alvarado declined his player option to sign the new deal.
- The Knicks are managing a tight budget.
- The Knicks aim to stay below the second apron.
Jose Alvarado is set to return to the New York Knicks after agreeing to a three-year contract that will pay him over $14 million. Alvarado opted to decline his player option for the upcoming season, choosing instead to sign a new, longer-term deal with the team. This decision comes at a time when the Knicks are operating with a tight budget and are focused on strategies to remain below the NBA's second apron. The new contract ensures Alvarado's continued presence with the Knicks for the next three seasons, providing depth and stability to the roster. His return is a key move for the team as they navigate financial constraints while aiming to build a competitive team.