Jose Alvarado is heading to his hometown New York Knicks in a trade between the Knicks and the New Orleans Pelicans in a trade for Dalen Terry and a second-round pick. 

Alvarado, a Brooklyn, New York native, has played for the Pelicans in all five of his NBA seasons after signing with New Orleans on a two-way contract in 2021 after going undrafted. In five seasons, Alvarado has averaged 7.9 points, 2.8 rebounds and 3.1 assists per game while shooting 41.2% from the field. 

Terry, the Chicago Bulls' first-round pick in the 2022 draft, was a quick-flip for the Knicks, who acquired him on Wednesday in a trade with the Bulls in exchange for Guershcon Yabusele. Now they've converted him into Alvarado, who will likely be a crucial bench piece for the Knicks as they pursue a playoff run.

Terry is averaging 3.5 points, 1.3 assists and 1.9 rebounds this season.

With the news that Miles McBride will undergo abdominal surgery that could keep him out for the majority of the season if not the remainder, the Knicks would have found themselves strapped for guard depth. 

With Alvarado now on the roster, the Knicks will not only have a reliable backup for Jalen Brunson, but have a high energy player that initiated the majority of the offense off the bench for the Pelicans. 

The Knicks have a a wealth of size and skill in their front court, but their backcourt critically lacked depth prior to making the deal to acquire Alvarado. His presence on the bench can dramatically affect the Knicks' pace of play and it diversifies their options when it comes to perimeter scoring. 

Ultimately turning a big man with an improper fit in the Knicks' scheme into a player like Alvarado is a huge move for the Knicks, even if it isn't the most show-stopping one. 

Despite being linked to Giannis Antetokounmpo for much of the Greek star's will-he-won't-he saga, the Knicks never really needed another big name to round out their roster. Brunson and Karl Anthony-Towns make a major impact for New York as it is, and what the team needed instead was more diversity of talent and depth on their bench.

The Knicks are gearing up for the playoffs and sit second in Eastern Conference standings and with the addition of Alvarado they've made strides in adding some more consistency to their roster, something that was sorely needed.