With the NBA trade deadline looming on February 5, the New Orleans Pelicans find themselves at a crossroads. The team is navigating a tough season, sitting at the bottom of the Western Conference standings with a 10-36 record and currently on a three-game skid. As front offices around the league ramp up trade talks, the Pelicans are making it clear: they’re open for business-but only on their terms.
Despite ongoing interest from rival teams in core pieces like Zion Williamson, Herb Jones, and Trey Murphy III, New Orleans hasn’t shown much willingness to engage in serious discussions about moving any of them. That’s not surprising.
Williamson, for all the ups and downs, remains the franchise centerpiece. Jones and Murphy, meanwhile, are two-way wings with the kind of versatility and upside teams covet.
The Pelicans know what they have-and they’re not about to hit the panic button.
Financial flexibility is a key part of the front office’s strategy. The Pelicans have no intention of taking on long-term salary or crossing the luxury tax line this season, which significantly narrows their list of potential trade partners and targets. That also means any move they make will have to be surgically precise-short-term, cap-friendly, and ideally, value-positive.
Enter Jose Alvarado.
The 27-year-old guard is drawing significant interest across the league, with the New York Knicks, Houston Rockets, and Detroit Pistons all reportedly kicking the tires. And it makes sense.
Alvarado isn’t a flashy name, but he brings a gritty, defensive-minded energy that playoff teams love to have in their rotation. He’s the kind of guy who changes the tempo of a game the moment he checks in-picking up full court, forcing turnovers, and making life miserable for opposing ball handlers.
This season, Alvarado is averaging 7.9 points, 3.3 assists, 2.8 rebounds, and a steal per game while shooting 42.4% from the field and 36.1% from deep. He’s appeared in 35 games, logging just over 22 minutes a night.
The production is steady, and the impact goes beyond the box score. He’s a spark plug, plain and simple.
From a financial standpoint, Alvarado fits the mold for a midseason trade. He’s in the first year of a two-year, $9 million deal, making $4.5 million this season.
There’s a player option for the 2026-27 season, which gives any acquiring team a bit of flexibility down the line. For contenders looking to bolster their bench without tying up future cap space, he’s a low-risk, high-reward option.
But Alvarado isn’t the only name circulating in trade chatter. Second-year center Yves Missi has also popped up in league conversations. While he’s not logging heavy minutes-averaging 18.8 per game across 38 appearances-Missi has shown flashes of potential that have caught the eye of talent evaluators around the league.
At 21 years old, Missi is still very much a developmental piece, but there’s intrigue. He’s putting up 5.5 points, 5.5 rebounds, 1.3 blocks, and 1.2 assists per game, and his athleticism and rim protection give him a clear role in today’s NBA.
More importantly, his rookie contract is team-friendly: four years, $15.6 million, with a team option for the 2027-28 season. That cost-controlled deal makes him a valuable asset, especially for teams looking to build around young, affordable talent.
Still, despite the noise and the calls coming in, the Pelicans have held firm on their stance with Zion Williamson-for now. There’s no indication that New Orleans is looking to move their star forward, even as the team struggles to find consistency. The organization appears committed to building around its core, at least through the rest of the season.
The Pelicans' immediate focus remains internal. After dropping a 112-104 decision to the Pistons on Wednesday night, they’ll look to regroup as they kick off a three-game road trip starting Friday in Memphis. With the trade deadline less than two weeks away, the front office has decisions to make-but they’re doing it with a clear plan in mind: maintain flexibility, protect the core, and explore deals that make sense both now and down the line.
Whether that means parting with a key role player like Alvarado or fielding offers for young talent like Missi, one thing is clear: New Orleans isn’t standing still. The question is, how bold are they willing to be?