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Report: Chad Ochocinco Restructures Contract

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After under performing in his first year with the Patriots, Chad Ochocinco has constantly made it clear that he's out to prove his worth in 2012. He's even lowering his monetary worth, in order to do so.

According to ESPN's Adam Schefter, Ochocinco has redone his contract for the 2012 season, and has lowered the value of deal from $3 million dollars to a cheap $1 million dollars. After being acquired from the Bengals early last season, Ochocinco struggled to find his fit in New England, as he only caught 15 passes for 276 yards and a single touchdown. Production that certainly isn't worth $3 million dollars.

Even though he's saved the Patriots a little bit of cash by restructuring, he's still not a sure fire bet to make the roster. He will join a group that includes newly signed Brandon Lloyd, Anthony Gonzalez and Donte Stallworth as well as returning starters Deion Branch and Wes Welker. It's certainly not going to be easy, but he's made the right move in redoing his deal.

Last week, we pondered the thought that Ochocinco may be on his way out of New England, with the new additions in the fold. My take with Ochocinco, is that he should be given a fair shot in earning a roster spot if he restructured. Now that he's done so, we'll have to sit back, and see if Ochocinco can give the Patriots the type of pro-bowl caliber production while fighting for his life in training camp.