The Eagles are expected to try to free up some additional cap space in the next few weeks to give them some room for work with this offseason, and it appears as though a restructured contract for Peters was among their first options.
It’s worth mentioning that the Eagles signed Lane Johnson to a five-year, $56 million extension last year with the intention of eventually moving him to left tackle at some point.
Jimmy Kempski of PhillyVoice.com previously reported that the Eagles are expected to free up “quite a bit of cap space” before the start of free agency this March and listed DE Connor Barwin, RB Ryan Mathews, C Jason Kelce, CB Leodis McKelvin, OL Allen Barbre, LB Mychal Kendricks and CB Ron Brooks as possible release/trade candidates.
Peters, 35, is entering the fourth year of a five-year, $48.3 million contract that included $19.55 million guaranteed and a $5 million signing bonus. He is set to make a base salary of $9.995 million this year to go along with another $10 million in 2018.
According to OverTheCap.com, restructuring Peters’ contract could create as much as $4,725,000 in available cap space.
In 2016, Peters appeared in all 16 games for the Eagles and was a Pro Bowl selection. Pro Football Focus graded him as the No. 8 overall tackle out of 78 qualifying players.
We’ll have more regarding a restructured contract involving Peters as the news becomes available.