With the New Orleans Pelicans sitting at the bottom of the Western Conference with a 4-22 record, the writing’s on the wall: this team is headed for a reset. The trade deadline is approaching, and all signs point to New Orleans being one of the more active sellers on the market. The only real question is how deep they’re willing to go-and which players they’re ready to move.
One name drawing consistent interest around the league is Jose Alvarado. The 27-year-old guard has long been known for his defensive tenacity and infectious energy-traits that make him an ideal fit for any team looking to bolster its second unit. Add in his manageable $4.5 million salary this season, and you’ve got a player who’s not just valuable on the court, but easy to acquire from a cap perspective.
The latest team linked to Alvarado? The New York Knicks. According to a report from Ian Begley, the Knicks are among several teams monitoring the situation in New Orleans, with Alvarado on their radar should he become available.
It’s not hard to see why. Alvarado is a New York native, and a move to Madison Square Garden would be a homecoming of sorts.
More importantly, he fills a real need on the Knicks' bench. Outside of second-year guard Tyler Kolek, New York’s reserve backcourt is heavy on scoring guards and light on true floor generals.
Alvarado’s ability to initiate offense, defend at a high level, and bring energy could give the second unit a much-needed jolt.
A hypothetical trade that’s been floated involves the Knicks sending over their 2024 draft picks-Tyler Kolek and Pacome Dadiet-along with a 2026 first-rounder in exchange for Alvarado. For the Pelicans, that’s a package that checks a lot of boxes.
Kolek was one of the best playmakers in college basketball, and while Dadiet is still raw at 19, he’s got upside worth betting on. Add in a future first-round pick, and New Orleans would be turning a solid backup guard into three potential long-term assets.
And that’s the bigger picture here. Alvarado might not be the flashiest name on the roster, but if the Pelicans are serious about a rebuild, moving him could be the first domino to fall.
He’s a plug-and-play contributor for contenders, and his contract makes him one of the more moveable pieces on the roster. He’s also having a quietly efficient season, averaging 8.9 points, 2.9 rebounds, and 3.3 assists while hitting 37.6% from beyond the arc.
That kind of production, combined with his intangibles, makes him a hot commodity.
If New Orleans can flip Alvarado for young talent and draft capital, it could set the tone for how they handle the rest of the roster. That kind of deal would reinforce a broader strategy: build around youth, stockpile picks, and lean into player development.
The Pelicans already have some intriguing young pieces in place. Derik Queen is emerging as a potential offensive hub.
Jeremiah Fears brings explosive scoring from the backcourt. Micah Peavy is carving out a role as a defensive stopper and high-motor wing.
Bryce McGowens offers instant offense off the bench. And if they hang on to Trey Murphy III, he’s capable of being the go-to scorer in this rebuild.
What the front office needs now is clarity-and commitment. Moving veterans like Alvarado for future-focused returns would signal that this team is ready to lean into a long-term vision. It won’t be flashy, and it might not make headlines, but trades like this are how you build a sustainable core.
So while a Jose Alvarado trade might seem like a small move on the surface, it could be the first step in a much larger shift. For the Pelicans, it’s not just about parting with a fan favorite-it’s about turning the page and building something new.