New York reportedly has agreed to a trade with New Orleans to acquire guard Jose Alvarado in exchange for Dalen Terry, two second-round picks and cash, according to multiple reports.

The Knicks will send the Pelicans two second-round picks and Terry, who they acquired in a separate deal with Chicago, for Alvarado.

New York receives:

Jose Alvarado

New Orleans receives:

Dalen Terry Two second-round picks Cash considerations

Source : THE KNICKS ARE SENDING DALEN TERRY, TWO SECOND-ROUND PICKS AND CASH TO THE PELICANS FOR ALVARADO, SOURCES SAID. HTTPS://T.CO/DQB6AS7UAI — SHAMS CHARANIA (@SHAMSCHARANIA) FEBRUARY 5, 2026