Chad Ochocinco and Albert Haynesworth restructure their contracts
|08.10.11 at 7:51 pm ET|
Ochocinco was scheduled to make a base salary of $6 million in 2011, but has agreed to restructure his deal so they he will receive a base salary of $1 million in 2011 and $3 million in 2012 and 2013. Meanwhile, Haynesworth was scheduled to make base salaries of $5.4, $6.7, $8.5 and $10.3 million the next four years. Instead, the former Titan and Redskin will make a base salary of $1.5 million in 2011 and $6.7 million the following season.
UPDATE, 12:40 a.m.: Jason Cole of Yahoo! writes Haynesworth can earn as much as $5.85 million this year through various incentives: If he plays 20 percent of the defensive snaps, he’ll earn an extra $1 million. Then, he’ll earn an additional $590,000 if he plays 45 percent, and another $590,000 when he tops 50 percent, 55 percent, 60 percent and 65 percent of New England’s defensive snaps in 2011, a bonus system that could ultimately net him an extra $2.95 million if he meets all the incentives. In addition, if he lands a spot in the Pro Bowl, he’ll get an additional $400,000.