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Chad Ochocinco slashes pay to remain on New England Patriots

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The market for aging, formerly disruptive receivers isn't what it once was. While Terrell Owens toils in the Indoor Football League, Chad Ochocinco is taking a $2 million pay cut to remain on the New England Patriots.

ESPN reported Monday that Ochocino will restructure his contract for 2012. By "restructuring" they mean "taking a pay cut instead of releasing him."

Ochocinco will make $1 million for the upcoming season instead of the $3 million he was set to be owed. The lower cap number makes it more likely the 34-year-old receiver will make a talented Pats roster.

He was traded to New England last offseason for a multitude of low-round picks, earning $6 million in salary and bonuses for a disappointing year in which he posted career lows in receptions, yards, touchdowns and attention-grabbing headlines. Ochocinco started just three games for the Pats, the fewest since his rookie season with the Cincinnati Bengals.

This is a solid move for both sides. New England keeps a low-risk talent on its roster and Ochocinco has a chance to resurrect his career with Bill Belichick and Tom Brady. It's a victory for all, especially bloggers who will get to cover Ochocinco fawning over Brady in training camp again.

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