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Terrell Owens on pace to reach every contract incentive

When Terrell Owens signed with the Bengals, he was given a $2 million base salary and the chance to earn up to $2 million more by reaching various statistical milestones. But some of those milestones required him to put up such big numbers that he called hitting all the incentives “an unreachable goal.”

He was wrong.

In fact, Owens is playing so well this season that if he keeps it up, as Joe Reedy of the Cincinnati Enquirer points out, he’s going to make $4 million, the maximum value of his 2010 contract.

As we detailed in July, Owens will get $333,333 for reaching each of the following benchmarks: 60 catches, 900 yards, and 10 touchdowns. He’ll then get another $333,333 if he tops 100 catches, 1,300 yards and 14 touchdowns.

So how’s he doing? Halfway through the season, Owens has 55 catches for 770 yards and seven touchdowns. He’ll probably reach the 60-catch incentive in the Bengals’ next game and could get to 900 yards and 10 touchdowns in the next game or two. He’s almost certain to reach the first $1 million of his incentives.

And while the second $1 million won’t be easy to reach, he’s on pace to hit them all.

A month shy of his 37th birthday, Owens is having one of his best seasons, and probably earning himself a big contract for 2011. If Owens is motivated by money, the Bengals were wise to structure his contract the way they did.