Jose Alvarado Returns to Knicks on Multiyear Deal Worth Over ₱700 Million

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New York Knicks point guard Jose Alvarado will return to the team on a multiyear deal worth over ₱700 million, The Associated Press reported on Friday. The 25-year-old guard, who was acquired from the Chicago Bulls, has a new three-year contract that will keep him with the Knicks that drafted him in 2021.

The ESPN first reported the plan, saying Alvarado would make more than ₱700 million with the new deal. Alvarado declined his player option and is working with the team on a three-year deal, according to a person with knowledge of the agreement who spoke to the AP on condition of anonymity because the contract was not yet finalized.

Alvarado's deal is the latest in a series of major signings made by the Knicks, who won the NBA championship in 2026. The team has been looking to re-sign key players and Alvarado is considered one of their top options.

And, in related news, the Knicks have been on a hiring spree, securing several key players and coaches in the off-season. So, it's not surprising they'd want to keep Alvarado, who has been a valuable asset to the team.

The Knicks' decision to re-sign Alvarado is a significant one, as it shows the team's commitment to building a strong roster. Yet, it also means that the guard will be with the team for the next three years, a prospect that might excite some fans but also creates uncertainty for others. But what's clear is that Alvarado is in for the long haul.

It's worth mentioning that Alvarado's new deal comes with a significant increase in salary. He'll be making over ₱700 million over the next three years, a figure that underscores the team's confidence in his abilities. With the new deal, Alvarado will be one of the highest-paid players on the team, a fact that might spark some envy among his teammates.

The Knicks' front office has been working tirelessly to secure the best talent in the league, and securing Alvarado's services is a major coup. The team's commitment to building a strong roster is a testament to their dedication to winning.

And while fans are still reeling from the news, one thing is certain: Alvarado is here to stay.