who did the knicks trade for

Latest Knicks Trade: Alvarado Acquisition The New York Knicks made waves at the NBA trade deadline by acquiring guard Jose Alvarado from the New Orleans Pelicans, a move announced on February 5, 2026 —just yesterday as of this writing. This deal bolsters their backcourt defense amid a competitive Eastern Conference season, with fans buzzing about the "homecoming" angle since Alvarado hails from the New York area.

Trade Breakdown

In exchange, the Knicks shipped out:

• Dalen Terry (recently acquired forward)
• Two second-round picks
• Cash considerations

"The Knicks are sending Dalen Terry, two second-round picks and cash to the Pelicans for Alvarado" — Shams Charania, February 5, 2026

Alvarado brings gritty perimeter defense, averaging 7.9 points, 2.8 rebounds, 3.1 assists, and nearly 1 steal per game this season. He's hit at least one steal every year of his career, fitting perfectly into coach Mike Brown's defensive scheme.

Recent Context: The Terry Flip

This wasn't isolated—just a day earlier on February 4 , the Knicks flipped Guerschon Yabusele to the Chicago Bulls for Dalen Terry, shedding salary without attaching picks. Yabusele underperformed off the bench alongside Mitchell Robinson and others, making this a salary dump ahead of bigger moves.

Trending Fan Reactions

• Optimism on Defense : Forums highlight Alvarado as a steal for depth next to Jalen Brunson, with some calling it a "perimeter lockdown" upgrade amid rumors of chasing stars like Giannis.

• Skeptics on Picks : Knicks have nine tradable second-rounders ; dumping two here preserves firsts but fuels debate on long-term asset management.

• Bigger Picture : No blockbuster for Karl-Anthony Towns (despite rumors) or Jrue Holiday, but this keeps NY flexible for offseason plays targeting Milwaukee talent.

Trade Date| Knicks Get| Knicks Give| Impact
---|---|---|---
Feb 5, 2026| Jose Alvarado| Dalen Terry, 2nd-round picks (x2), cash| Defensive boost; Terry was short-term hold 1
Feb 4, 2026| Dalen Terry| Guerschon Yabusele| Salary relief; no picks attached 3

TL;DR : Knicks traded for Jose Alvarado from Pelicans for Dalen Terry and assets—key defensive add at the deadline. Keeps them playoff contenders without gutting the future.

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