5:07pm: Indeed, the Raiders and Peterman are not truly planning to separate. Peterman is expected to land on Las Vegas’ practice squad, according to Tom Pelissero of NFL.com (on Twitter). Unless another team poaches him, Peterman will stay on as the Raiders’ de facto third-stringer.
Since this transaction processed after today’s 3pm trade deadline, Peterman will head to the waiver wire. If unclaimed, the fifth-year quarterback will be a free agent. The Raiders signed Peterman to an extension in February; just more than $500K remains on his deal.
Following some disastrous in-game outings with Buffalo, Peterman landed in Oakland in December 2018. The then-Jon Gruden-led franchise then kept Peterman around via a reserve/futures deal and used him as a Derek Carr reserve over the next three seasons. Marcus Mariota stands as Carr’s backup; the Raiders do not have a quarterback on their practice squad.
Given Gruden’s abrupt exit, it will be somewhat interesting if the Raiders bring back Peterman. He remains practice squad-eligible, should Las Vegas go this route. Mariota has spent time on IR in each of his two Raiders seasons and certainly battled health issues while with the Titans.
A fifth-round pick in 2017, Peterman has a ghastly 3-to-12 touchdown pass-to-interception ratio and has completed 52.6% of his passes (at just 4.2 yards per throw). The 27-year-old passer has nevertheless stuck around as a backup arm. He appeared two Raiders games, the second of which coming earlier this season.