Greenway's base salary for 2015, the final year of his contract with Minnesota, has been reduced from $7 million to $3.4 million, the source told Yates. Greenway will receive $1 million in guaranteed money and can make up to $600,000 from various bonuses, according to the source.
The restructured deal creates $3.225 million in cap space for the Vikings, according to the source. Greenway previously would have counted for $8.8 million against Minnesota's salary cap.
Vikings general manager Rick Spielman said earlier this month that the team wanted Greenway, 32, to finish his career in Minnesota. The two-time Pro Bowler has played his entire eight-year career with the Vikings.
Greenway recorded a career-low 93 tackles, tied for second-most on the team, last season despite appearing in just 12 games. It marked the first time since 2009 that Greenway failed to record at least 100 tackles.