Ochocinco was scheduled to make $6 million in 2011, the final year of a 6-year, $35.5 million contract he signed back in 2006 while a member of the Cincinnati Bengals.
Ochocinco and the Patriots worked out a 2-year extension as a part of his restructured deal. Ochocinco will now make a cool $1 million in 2011 and $3 million in both 2012 and 2013.
There are likely performance bonuses built in that can bring his salary for 2011 closer to the $6 million he gave up, but this restructured deal is definitely team and salary cap friendly.
Haynesworth, meanwhile, had his 2011 base salary cut from $5.4 million to $1.5 million. Playing time incentives can get him back up to $5.45 million, and he could even earn an additional $400k if he makes the Pro Bowl.
Hayesworth’s restructuring wasn’t about taking a pay cut as much as it was about reducing the risk for the Patriots. If Haynesworth is on the week 1 roster, his base salary for 2011 becomes guaranteed. Now, if Haynesworth becomes more trouble than he’s worth, the Patriots are only on the hook for $1.5 million.
Haynesworth wants to rehabilitate his image, and restructuring his 2011 salary down to a more team-friendly number is a pretty good start.
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