UPDATE (12:06 AM): Aaron Wilson has tweeted out Peterson’s contract details. He has a cap charge of $4.225 million this year and $9.775 in 2024. He also has a $3 million roster bonus ahead of the ’24 season that is due next March.
Pittsburgh is now roughly $7 million under the cap.
Patrick Peterson said Monday evening that details on his contract with the Pittsburgh Steelers were still being “ironed out,” but it seems the two sides have agreed on the money. According to NFL Network’s Tom Pelissero, Peterson is receiving a two-year contract worth $14 million. Of that, $5.85 million is guaranteed.
There will likely be a follow-up report outlining the specifics of the contract. But in broad terms, that’s $7 million average annual value, $4 million less than it took Cam Sutton to go to Detroit. No external free agents can officially sign until the new league year begins on Wednesday, March 15th at 4 PM/EST.
Peterson’s age, turning 33 this summer, is working against him and keeping his number down. Overall, it’s a reasonable deal for both sides. He’s expected to replace Sutton as one of the Steelers’ starting corners aligning opposite of Levi Wallace. The Steelers seem poised to wrap up Day One of the legal tampering period losing Sutton, agreeing to terms with Peterson, and nothing else.
Pittsburgh is also a strong candidate to draft a corner, especially in a deep class with tons of options in the Top 100 picks. Penn State’s Joey Porter, Jr. will likely become *the* name mocked to the Steelers, though it’s not a given he’ll fall to No. 17. Other options include Maryland CB Deonte Banks, South Carolina’s Cam Smith, and even Kansas State’s Julius Brents.
Peterson, an eight-time Pro Bowler and three-time All-Pro, had a strong 2022 season, tying for the team lead with five interceptions. We’ll have a full film room on Peterson tomorrow while Dave Bryan will bring you a cap update once all the numbers are in and calculated.
