NESN Patriots beat writer, Jeff Howe, reported on Wednesday afternoon that newly acquired players Albert Haynesworth and Chad Ochocinco have officially restructured their contracts.
With the new CBA rules in place, the Patriots had to wait to restructure their deals until Aug. 4th¬†because otherwise it would cause both players to miss time in training camp.
Patriots wide receiver Chad Ochocinco has restructured his contract through 2013. He will receive $1 million this year, $3 million in 2012 and 2013.
With Ochocinco seemingly taking a strong pay cut for the 2011 season (originally reported as $5.4 million base), there are most likely strong performance bonuses in the contract language.
Albert Haynesworth had his contract altered slightly as well. The defensive lineman is now set to make $1.5 million in 2011 and $6.7 million in 2012.
The Pats are not on the hook for any bonus payments this year. So if the team wanted to cut Haynesworth tomorrow (hypothetically), they could do so with little-to-no impact financially. There are escalators and bonuses in the contract available for Haynesworth next season.¬†From the looks of the deal, Haynesworth seems to be serious about reviving his career with New England.
On another note, Patriots defensive end¬†Andre Carter has signed a one-year deal. His base salary is worth $1.25 million.
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