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CHAD OCHOCINCO & EVELYN LOZADA Big Time Payday for 'Basketball Wives' Spinoff (155 hits)

Chad Ochocinco and Evelyn Lozada have signed their deal to do a "Basketball Wives" spinoff show with VH1 ... and they each have 300,000 reasons to celebrate ... TMZ has learned.

According to our sources, filming on the new show will begin in the next few weeks, right after taping for "Wives" ends. We're told the show will focus on the couple as they get ready to exchange vows this summer.

Our sources say negotiations finally wrapped last week and the two will each take home $300,000 for about two months of work.

As TMZ first reported, when Evelyn re-upped her contract with "Basketball Wives" last year, part of the deal called for VH1 to give her and Chad their own show.

The show should be officially announced this week.

Posted By: DAVID JOHNSON
Saturday, March 31st 2012 at 3:56PM
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from what i see in the show she needs anger management,,, asap.. FAST !
Saturday, March 31st 2012 at 3:57PM
DAVID JOHNSON

Evelyn Lozada was all set to leave "Basketball Wives" and not return for the show's fourth season -- until the show offered her a deal she just couldn't turn down ... which, TMZ has learned, includes her own spin-off show.

As TMZ previously reported, Evelyn had made up her mind that she was done with the show for good after VH1 posted a blog insinuating she cheated on her husband, NFL star Chad Ochocinco.

Once Evelyn let producers know she was out, that's when we're told they really made a push to keep her.

According to our sources, her new arrangement with the show has her shooting about half as often (but with a raise) and that she can work around her daughter's school schedule. We're also told Evelyn has made it clear ... she will not miss any of Chad's games.

But according to our sources, the final carrot that sealed the deal ... was that VH1 promised to spin off Evelyn and Chad into their own show. We're told that show would document the months leading up to their wedding ... but so far no deal to shoot the wedding has been made.

Calls to VH1 were not returned.
Saturday, March 31st 2012 at 3:59PM
DAVID JOHNSON