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It was expected that Albert Haynesworth would restructure his deal when the Patriots traded a 2013 fifth-round pick for him, and now we know the new terms.
The Patriots have, according Jason Cole at Yahoo!, restructured Haynesworth's deal over the next two seasons. He was due to earn 5.4 million in base salary in 2011, but his base salary has been reduced to 1.5 million this season.
Haynesworth can earn all the money and more back in incentives. He will earn 1 million if he plays in 20 percent of the plays and an additional 590,000 when he hits 45 percent, 50 percent, 55 percent, 60 percent and then 65 percent.Haynesworth, who signed a seven-year, 100 million deal with the Redskins in 2009, can also earn 400,000 if he makes the Pro Bowl. Thats a total of 5.85 million if Haynesworth hits all of his incentives.
Haynesworth's contract extends through the 2012 season, and he is due a base salary of 6.7 million in 2012, according to multiple reports.
Patriots owner Robert Kraft spoke with media Wednesday and discussed bringing Haynesworth on board.
"I met with him. And you know, Ive learned in life and in business that people sometimes have different agendas," Kraft said. "I met with him and I like the guy, so I take people as he didnt come here for the money; he came here to be part of a team and win and I think in some ways, improve his reputation. Like a lot of meetings I have with these guys, I found him to be genuine and sincere so now I hope he gets out on the field and does his thing."
Chad Ochocinco, although seemingly less of a risk, also had his contract restructured through 2013. According to reports, Ochocinco's base salaries are 1 million in 2011, and 3 million in both 2012 and 2013.
ESPN Boston has reported that though Ochocinco restructured his deal to make less from his base salary, he got a signing bonus of 4.5 million. Ochocinco is scheduled to earn base salaries of 3 million apiece in 2011 and 2012, and he can earn an additional 100,000 in workout bonuses, according to the report.
Kraft is a fan of Ochocinco's, and seems to be amused by his wanting to live with a fan for a couple of weeks to get acclimated with the city.
"Well, first of all, you have to love the guy," Kraft said Wednesday. "I have people e-mailing me who would like to host him. Im not sure I want the responsibility, except someone prominent here in Foxboro has offered to be his host."
Kraft wouldn't say who the "prominent" name was though.
The restructuring of those two contracts along with the six-year contract extension of Logan Mankins ended quite a busy day for the Patriots on the business side of things.