The New Orleans Pelicans are losing a fan favorite.
The Pelicans have traded guard Jose Alvarado to the New York Knicks, according to ESPN insider Shams Charania.
In exchange for Alvarado, the Pelicans will obtain shooting guard Dalen Terry, who has played four seasons with the Chicago Bulls. Terry was traded to the Knicks Wednesday for Guerschon Yabusele.
The Pelicans will also getting two second-round picks and cash.
Alvarado was in his fifth season with the Pelicans. He came to the team as an undrafted rookie in 2021 and didn’t take long to capture the hearts of the fans with his hustle and energy off the bench. He averaged 8.1 points and 3.1 assists in his time with the Pelicans. This season, he was averaging 7.9 points and 3.1 assists.
Alvarado has a $4.5 million player option remaining on his deal after this season and was mentioned in several trade rumors as Thursday’s deadline approached.
Alvarado was asked about those trade rumors Friday after what turned out being his final game in the Smoothie King Center as a Pelican.
“This is a business at the end of the day,” Alvarado said. “You never know. You might get a call. At the end of the day, it’s still basketball. With this group or any group, you just stay with it. If it happens, it happens. We can’t change nothing. So if you go to another team or not, you just play basketball. You’ve got to stay level-headed with this.”
Terry, acquired in the trade, was the No. 18 overall pick in the 2022 draft by the Bulls. He has struggled early in his time in the NBA. He has averages of 3.5 points and 1.2 assists in his career.
Alvarado, a Brooklyn native, is returning to his home state.
The Pelicans’ next game is Friday on the road against the Minnesota Timberwolves.