New Patriots take pay cuts
FOXBOROUGH, Mass. -- When New England Patriots owner Robert Kraft was asked Wednesday about defensive lineman Albert Haynesworth, he said he met the veteran and liked him, before adding that "he didn't come here for the money."
Indeed, Haynesworth took a significant pay cut to facilitate a trade from the Washington Redskins to the Patriots.
Haynesworth was scheduled to earn $5.4 million this season, but according to a restructured contract filed to the league, his base salary is now $1.5 million (not including incentives). There are no bonuses in 2011 as part of the deal, which makes it a low-risk scenario for the Patriots.
Haynesworth's contract extends through the 2012 season, and he is due a base salary of $6.7 million in 2012. Haynesworth also is due a roster bonus of $400,000 on Aug. 1, 2012, and could earn an additional $100,000 in a workout bonus.
New England sent Washington a 2013 fifth-round draft pick for Haynesworth.
Receiver Chad Ochocinco also took a reduction to come to the Patriots.
Scheduled to earn $6 million in 2011, his base salary has been trimmed to $1 million, according to a restructured contract filed with the league. He did receive a signing bonus of $4.5 million in the deal, so his pay this year is $5.5 million.
Ochocinco's new deal extends through 2013. He is scheduled to earn base salaries of $3 million apiece in 2011 and 2012. Ochocinco can earn an additional $100,000 in workout bonuses.
The Patriots traded a 2012 fifth-round draft choice and a 2013 sixth-round pick to the Cincinnati Bengals for Ochocinco.
Mike Reiss covers the Patriots for ESPNBoston.com.