Jose Alvarado, affectionately known as "Grand Theft Alvarado," is a back-up point guard who plays for the New Orleans Pelicans. Standing at 6 feet tall, Alvarado hails from Brooklyn, New York, and played college ball at Georgia Tech University before the NBA.
Alvarado's college hoops journey was marked by standout performances for the Yellow Jackets. As a freshman, he made an immediate impact, starting in all 25 games and joining an elite group of Georgia Tech freshmen to average at least 12.0 points, 3.5 rebounds, and 2.0 assists per game. His junior season showcased his versatility, as he averaged 14.4 points, 4.0 assists, 3.4 rebounds and 2.2 steals per game, earning a spot on the Third Team All-Atlantic Coast Conference (ACC).
In a memorable senior season, Alvarado, alongside Moses Wright, led Georgia Tech to its first ACC title since 1993. Due to his stellar defensive contributions, he was named the ACC Defensive Player of the Year, making history as the shortest player ever to win the award.
Despite going undrafted in the 2021 NBA Draft, Alvarado's tenacity and defensive prowess caught the eye of the New Orleans Pelicans, who signed him on a two-way contract. His impact was immediate, injecting hustle and high energy off the bench. His unique defensive strategy sees him stealthily hiding in the corner before opponents inbound the ball, often leading to steals.
In his second season, Alvarado's talent was recognized by the NBA when he was invited to participate in the NBA All-Star Rising Stars Challenge. He seized the opportunity and clinched the Rising Stars Challenge MVP award with a game-winning shot. Currently, Jose Alvarado remains a crucial component of the Pelicans' bench, contributing significantly with his defensive prowess and high energy style of play.
Jose Alvarado Contract Breakdown
| Year | Base Salary | SigningBonus | Cap Hit | Dead Cap | Yearly Cash |
| 2023-24 (Team Option Exercised) | $1,836,096 | - | $1,836,096 | - | $1,836,096 |
| 2024-25 (Team Option) | $1,988,598 | - | $1,988,598 | - | $1,988,598 |
How much is Jose Alvarado getting paid?
Jose Alvarado is set to earn $1,836,096 for the 2023/24 season.
According to Sportrac, Alvarado has signed a four-year rookie scale contract with the New Orleans Pelicans, worth $6,888,212 part-guaranteed.
How much does Jose Alvarado make in a minute?
Jose Alvarado’s salary for the 2023/24 season is $1,836,096. Now one year is known to have 525,600 minutes. If his total salary is divided by the number of minutes available in a year, then Alvarado makes around $3.49 in a minute.
Jose Alvarado Career Earnings
After the end of the 2023/24 NBA season, Alvarado would have earned approx. $6.5 million from his NBA contracts.
What are the terms of Jose Alvarado’s contract?
Alvarado’s standard rookie scale contract has team options after second and third seasons. This means the New Orleans Pelicans held the option to decide if they wish to sign him for the 2023/24 and 2024/25 NBA season.
The Pelicans have already exercised their team option for the 2023/24 season. It remains to be seen if the Pelicans sign Alvarado in the 2024 NBA off season.
How much of the Jose Alvarado Contract is guaranteed?
Jose Alvarado’s contract worth $6,888,212 is part-guaranteed until the 2024/25 NBA season.
Fourth season of the contract has a team option in it so it is non-guaranteed, as of February 2024.
Jose Alvarado Contract History
These are all the contracts that Jose Alvarado has signed in his career till now.
March 28, 2022
Jose Alvarado signed a four-year $6.88 million contract with the New Orleans Pelicans.
FAQ's on Jose Alvarado Contract
A. Jose Alvarado's salary is $1,836,096 for the 2023/24 NBA season.
A. Jose Alvarado has a four-year, $6,888,212 rookie contract with the Pelicans.
A. Jose Alvarado went undrafted in the 2021 NBA Draft.
A. Jose Alvarado played four years of college basketball at Georgia Tech University.
A. Jose Alvarado’s ethnicity is Puerto Rican.
