Knicks fan favorite Jose Alvarado reportedly declining option, agrees to 3-year, $14 million deal with hometown team

It’s unclear how much of their title-winning team the New York Knicks will retain, but they’re reportedly holding onto one fan favorite.

Reserve guard Jose Alvarado plans to decline his $4.5 million player option for 2026-27 and sign a new three-year, $14 million contract with the Knicks, according to ESPN’s Shams Charania.

This article will be updated with more information.