The Knicks acquired Jose Alvarado, who the Pacers reportedly expressed interest in this season, from the Pelicans.
According to ESPN's Shams Charania, the New Orleans Pelicans are trading guard Jose Alvarado to the New York Knicks for Dalen Terry, two second-round picks, and cash.
On paper, this trade doesn't really impact Indiana much, outside of it strengthening one of its biggest rivals. However, back in November, The Stein Line's Jake Fischer reported that the Pacers had interest in the New York native.