The Patriots would take a $3.17 million salary cap hit if they released Chad Ochocinco without designating him a post-June 1 cut. The transaction would take Ochocinco off the books beyond 2012. On the other hand, the Pats could accept "prorated" cap hits of $1.583 million in 2012 and $1.583 million in 2013 if they release Ocho and designate him a post-June 1 cut. The Pats seem to be eyeballing a restructured, incentive-laden redo instead.

According to the Sports Business Journal, the Patriots have "approached Chad Ochocinco about restructuring his contract."

The Boston Globe believes Chad Ochocinco could be back with the Patriots in 2012 under a restructured contract, and then "subject to a release." The consensus is that Ochocinco won't be back at his current scheduled salary of $3 million, but it appears the Pats have not completely shut the door on him returning for another season. However, it's extremely unlikely remaining in New England will be Ochocinco's Plan A considering the way he was used in 2011. The odds are high he'll be elsewhere next season.

The Boston Herald calls Chad Ochocinco "a likely candidate to get cut." It's just stating the obvious, but it's the firmest a Boston media outlet has been with regards to Ochocinco's future in New England. ESPN Boston's Mike Reiss recently reported Ochocinco was unlikely to be back at his "current scheduled salary of $3 million." The odds are extremely high Ocho will be granted his out-right release.

ESPN Boston's Mike Reiss finds it "hard to imagine" Chad Ochocinco will be back with the Patriots in 2012 at his current scheduled salary of $3.1 million. It's hard to imagine Ochocinco being back in New England, period, after he struggled to pick up the offense en route to notching just 15 catches in 2011. Rapidly declining at the age of 34, Ocho will likely have to settle for an incentive-laden deal if/when he's cut loose.

Chad Ochocinco caught one pass for 21 yards in the Patriots' Super Bowl 46 loss to the Giants. It was his lone target. While Ocho has said publicly that he hopes to return to the Patriots in 2012, it's not happening without a major pay cut. Ochocinco is scheduled to receive $3.1 million in 2012 bonuses in salary. Slow to pick up New England's offense with a skill set in decline, Ocho was a healthy scratch for one of the Pats' three playoff games, and played sparingly in the other two. He finished the regular season with 15 catches and 276 yards.

Chad Ochocinco hopes to remain with the Patriots in 2012. Currently set to make $3.1 million next season, Ocho would likely have to be amenable to taking a drastic paycut to have any shot at staying. After falling behind Tiquan Underwood and Julian Edelman on the depth chart down the stretch, Ocho will be elsewhere in 2012.

Comcast SportsNet New England suggests that Chad Ochocinco has played his final game as a Patriot. Ochocinco played only one snap in the Divisional round and is a healthy scratch for Sunday's AFC Championship Game. He's definitely done in New England if the Patriots lose to Baltimore, and very well could be scratched in the Super Bowl if they win. Ocho is due $3.1 million in 2012 salary and bonuses.

Chad Ochocinco has left the Patriots to attend his father's funeral in Miami, but is expected back in time for Sunday's AFC Championship Game. He left the team on Friday. Rough weather is predicted for Boston on Saturday, but the odds are low Ochocinco doesn't make it back in time for Sunday's 3PM ET game. The conference championship appearance will be the first of Ochocinco's 11-year career.

Chad Ochocinco played one snap in the Patriots' Divisional Round win over the Broncos on Saturday. That's eight fewer than Tiquan Underwood and 26 fewer than Julian Edelman. It's just the latest indignity in a season full of them for Ochocinco, who still hasn't grasped the subtleties of New England's complex offense. Under contract for $3 million each of the next two years, it would be a stunner if Ochocinco is actually back with the Patriots in 2012.