New Orleans Pelicans guard Jose Alvarado heads to the New York Knicks.
With just a couple of hours until the trade deadline, the New Orleans Pelicans have made their first, and possibly only, move of the year.
Per ESPN's Shams Charania, the Pelicans are trading backup point guard Jose Alvarado to the New York Knicks in exchange for Dalen Terry and two second-round picks.
It may not seem like much, but that was the expected value for Alvarado on the open market. He's a backup guard making just $4.5 million this season. He also has a $4.5 million player option for next season that he is expected not to take, especially now that he will be playing on a bigger stage on a team hoping to make an NBA finals push.
Alvarado is averaging 7.9 points, 2.8 rebounds and 3.1 assists on 41.8/36.3/83.3 shooting splits and just under 22 minutes a night.
He comes up in big moments, but also just gives 100% effort on every single play. His biggest impacts come in how much he cares and helps his teammates in every given chance. It won't take long for Knicks fans to fall in love with him.
Some reports stated that Alvarado wanted to stay with the Pelicans, which makes sense given his loyalty, but now he will get to return home. New Orleans will miss the guard, and the feeling will be mutual, but this was a resolution that both sides can be happy about.
As for what the Pelicans got in Terry, an unproven guard who has shown some flashes, but never really put it together at the NBA level. He was the No. 18 pick in the 2022 draft and has never averaged over 13.5 minutes per night in a season.
The 23-year-old is averaging 3.5 points, 1.9 rebounds and 1.3 assists on a 44.1/41.3/52.9 shooting split this season. That three-point percentage is intriguing, but on a super-low volume.
Terry is on an expiring deal, but perhaps could get some more opportunities on this New Orleans squad down the stretch.