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Wayne agrees to restructured contract

Updated: April 23, 2009, 5:32 PM ET
Associated Press

INDIANAPOLIS -- Pro Bowl receiver Reggie Wayne has agreed to a restructured contract, which will give the Indianapolis Colts more room under this year's salary cap.

Wayne's agent, Joby Branion, confirmed the deal was completed but did not provide details about how much Indianapolis would save.

Players frequently restructure contracts by accepting bonuses after agreeing to lower their annual salaries. The bonuses are then prorated over the remaining length of the deal, in Wayne's case ...

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