Chad Ochocinco slashes pay to remain on New England Patriots

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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