Report: Vikings' Chad Greenway takes pay cut

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Minnesota Vikings linebacker Chad Greenway agreed to a pay cut that will create over $3 million in salary-cap space for the team, according to ESPN's Field Yates.

Greenway, who is entering the final year of his contract, had his base salary reduced from $7 million to $3.4 million, Yates reports. He will also receive $1 million in guaranteed money and can earn up to $600,000 through bonuses.

The former first-round pick would have counted $8.8 million against the cap had he not taken the pay cut.