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The Pelicans made a move prior to Thursday's NBA trade deadline.
ESPN reports that New Orleans sent Jose Alvarado to the New York Knicks in exchange for Dalen Terry, two second-round draft picks and cash considerations.
The 27-year-old Alvarado was averaging 7.9 points through 41 games played this season.
Terry never suited up for New York and was putting up 3.5 points in just over 11 minutes per game with Chicago.
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