Report: Chad Ochocinco Restructures Contract for Upcoming Season, Lowering Receiver’s Base Salary

Report: Chad Ochocinco Restructures Contract for Upcoming Season, Lowering Receiver's Base SalaryThe Patriots have been busy bolstering their wide receiving corps this offseason, leading many to believe Chad Ochocinco could eventually be cut loose.

Well, that might not necessarily end up being the case, as Ochocinco has restructured his contract for the upcoming season, according to ESPN's Adam Schefter. The 34-year-old wideout will reportedly have his base salary lowered from $3 million to $1 million as part of the restructuring.

Now certainly that doesn't guarantee Ochocinco will avoid being cut, but it shows his desire to remain in New England. The hope is that with a year in the system under his belt, Ochocinco can perform far better than he did in 2011, during which he caught just 15 passes for 276 yards and a touchdown.

The Pats have already added Brandon Lloyd, Anthony Gonzalez and Donte Stallworth to their receiving mix, while also re-signing Deion Branch and placing the franchise tag on Wes Welker. In other words, we could see an exciting positional battle come the start of training camp.

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