"Announcement: Pelicans Sign G Jose Alvarado to 2-Year, $9M Contract Extension"

New Orleans Pelicans guard Jose Alvarado has agreed to a two-year, $9 million extension, according to multiple media reports.

As part of the deal, Alvarado will receive a player option for the 2026-27 season.

Last season, Alvarado played in 56 games as a reserve, averaging 7.1 points, 2.3 rebounds, 2.1 assists, and 1.1 steals. He placed sixth in the voting for Sixth Man of the Year.

The 26-year-old has spent his entire three-year NBA career with the New Orleans Pelicans, with career averages of 7.5 points, 2.2 rebounds, 2.7 assists, and 1.2 steals in 171 games (11 starts). He was not selected in the 2021 NBA Draft after playing at Georgia Tech.