Recent Pelicans contract extension one of NBA's biggest steals

Jose Alvarado has rubbed off on the Pelicans.

The former undrafted point guard has made a name for himself by becoming one of the best steal artists in the NBA. On Saturday, the Pelicans signed Alvarado to a team-friendly deal that was one of the league's biggest steals.

Per NBA insider Shams Charania, New Orleans and Alvarado agreed to a two-year, $9 million extension with a 2026-27 player option.

ESPN's Bobby Marks reported that $2 million in previously non-guaranteed money for the 2024-25 season also became fully guaranteed with the extension.

Since entering the league undrafted by Georgia Tech in 2022, Alvarado has become a key player for the Pelicans and a local fan favorite .

He finished sixth in the Sixth Man of the Year voting last season. In 18.4 minutes per game, Alvarado averaged 7.1 points, 2.3 rebounds, 2.1 assists and 1.1 steals per game while shooting a career-high 37.7 percent from three-point range.

Alvarado is one of several outstanding defenders on the Pelicans. Along with forward Herb Jones, who signed a four-year, $53,827,872 contract extension last offseason , he gives New Orleans two of the league's best value signings.

Jones finished fifth in Defensive Player of the Year voting in 2023-24 while being named First Team All-Defense for the first time.

According to Stathead , Jones and point guard Dejounte Murray, whom the Pels acquired via trade earlier this offseason, have led the league in steals since the start of the 2021-22 season, Jones' rookie year.

New Orleans went 49-33 in 2023-24, its best record since the 2008-09 season. The Thunder swept it in the first round of the playoffs after it qualified for the postseason as the No. 8 seed.

With star forwards Zion Williamson and Brandon Ingram and guard C.J. McCollum rising young talent Trey Murphy III, the Pelicans have a deep roster that could make more noise in 2024-25.

And thanks to the Pels' savvy Alvarado extension, the good times should continue rolling beyond this season.