Peters was benched for yesterday’s game against the Chiefs, a move which represented a stark contrast to his usage earlier in the season. The two-time All-Pro logged a snap share of 91% this season while serving as a full-time starter on a Raiders secondary which faced plenty of questions during the summer. It was long expected Peters would eventually sign a deal in advance of the season, and multiple visits culminated in an agreement in July.
The parties worked out a one-year deal with a base value of $3MM. An additional $1.5MM in incentives were present in the contract, though, and Tafur notes Peters was on pace to reach them. As a result, the 30-year-old will now head to waivers; if he clears, he will be free to sign with any interested team. The decision marks an underwhelming end to Peters’ time with the Raiders.
The three-time Pro Bowler earned a reputation as one of the league’s top ballhawks during his time with the Chiefs, Rams and Ravens. Over the course of his tenure with those franchises, Peters totaled 32 interceptions and 92 pass breakups. His brief stint in Vegas, however, resulted in one interception (returned for a touchdown) in Week 8 along with five PBUs.
Peters missed the 2021 season due to a torn ACL, and his return to action in his final year with the Ravens featured a downturn in ball production and issues in coverage. Those seem to have followed him to Vegas, as he has posted a 66.1% completion percentage allowed (the worst mark of his career) along with a 103.2 opposing passer rating as the nearest defender (third-worst). Those figures have contributed to the Raiders’ middling performance in terms of pass defense this season, and the team will elect to cut ties in the second half of the campaign.
Peters had a relatively quiet free agent market in 2023 after the Ravens decided against retaining him. That move allowed his previous three-year, $42MM deal to expire without being extended or renewed at a different rate. A contract at a much lower figure awaited him this summer, and the same will no doubt be true on his next pact. It will be interesting to see if any teams get aggressive in making a claim on Peters given his status as a rental for the stretch run, or if he will go unclaimed and have a free choice of new employers.