Source: Chad Ochocinco redoes deal

Updated: March 26, 2012, 8:14 AM ET

New England Patriots wide receiver Chad Ochocinco agreed to restructure his contract for the coming season, lowering his base salary to $1 million from the $3 million he had been scheduled to earn, according to a league source.

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The restructured deal ensures that Ochocinco will be returning to Patriots training camp this summer.

The paperwork on the contract is expected to be turned in to the NFL Players Association this week.

Ochocinco, 34, struggled in his first season with the Patriots after being acquired in a trade with the Cincinnati Bengals, catching just 15 passes for 276 yards and a touchdown.

The Patriots have added many new faces at the receiver position this offseason too, agreeing to deals with Brandon Lloyd, Donte' Stallworth and Anthony Gonzalez. Deion Branch agreed to a one-year deal to return and Wes Welker received the team's franchise tag.