Evelyn Lozada and Chad Ochocinco making $300k each for 'Basketball Wives' spinoff

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Evelyn Lozada and her fiance Chad Ochocinco (or Chad Johnson, depending on who you ask) have signed on for their own "Basketball Wives" spinoff series, and VH1 is reportedly paying them a hefty sum to make it happen.

According to TMZ, Lozada and her football player fiance will be making $300,000 each for the filming. Negotiations were finalized last week, and the spinoff taping will begin shortly after "Basketball Wives" season 4 wraps.

Sources say that the show will follow the couple as they prepare for their wedding in July.

Ochocinco is a wide receiver for the New England Patriots, and he has previously appeared on VH1's reality dating series "Ochocinco: The Ultimate Catch" in 2010, as well as season 10 of "Dancing with the Stars." The couple met after Lozada ended a decade-long relationship with basketball player Antoine Walker, and announced their engagement last November.

Photo/Video credit: Getty Images