The Baltimore Ravens traded for Pro Bowl cornerback Marcus Peters in October, and now he’s going to stick around for the foreseeable future.
The 26-year-old former first-round pick agreed to a three-year extension, the team announced on Saturday. ESPN’s Adam Schefter reported the deal is worth $42 million with $32 million guaranteed.
Baltimore acquired Peters from the Los Angeles Rams for a backup linebacker and fifth-round pick when L.A. wanted to make way for Jalen Ramsey. That could hardly have worked better for the Ravens, who have held opposing quarterbacks to a 78.9 quarterback rating this season, second only to the New England Patriots.
Peters has been excellent in his nine games in Baltimore with three interceptions — two returned for touchdowns — and 38 total tackles. Since his debut in 2015, Peters’ 27 interceptions are nine more than any other player.
Peters’ deal has a unique structure
The Ravens are one of a flurry of teams signing players to extensions before the offseason starts, and, like many those players, Peters was about to hit free agency.
Instead of going for a big five-year deal like plenty of other star cornerbacks, Peters opted to make the rare choice of signing a three-year pact, which should allow him to cash in on another big deal in the future.
Still, Peters' $32 million in guarantees is eighth-largest among all cornerbacks despite the seven larger contracts all lasting five years. Meanwhile, his $14 million average annual value trails only Josh Norman, Trumaine Johnson and Patrick Peterson, and his 72 percent guaranteed rate is a record for corners.
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