New Delhi, June 28 -- The New York Knicks are finalizing a three-year contract worth more than $14 million for guard Jose Alvarado. This deal would keep the defensive specialist in New York after he helped the team win its first NBA title since 1973. Alvarado joined the Knicks via trade from the New Orleans Pelicans last February and quickly became a valuable bench contributor.

The new deal would secure Jose Alvarado through the 2028-29 season and take him off the free agent market this summer. He had been playing on a two-year, $9 million contract with the Pelicans that included a player option for the 2026-27 season. The midseason trade changed his path, and the Knicks see clear long-term value in bringing him back as they look to buil...