If the Patriots opt to cut wide receiver Chad Ochocinco, they'll still have to pay handsomely this coming season.
There have been reports that Ochocinco's restructured contract has a non-guaranteed base salary of $1 million for 2011.
However, sources claim that Ochocinco received a signing bonus in the amount of $4.75 million and a workout bonus worth $250,000.
That means if the Patriots decide to cut Ochocinco, they will have sacrificed the draft picks (fifth-rounder in 2012 and sixth-rounder in 2013) that were sent to Cincinnati for his services, along with $5 million.
The base salary doesn't become guaranteed until Week One, but cutting Ochocinco before the start of the season would permit him to keep the $5 million and then to sign with a new team.
Cutting Ochocinco Wouldn't Come Cheap For Patriots