Ian Rapoport of NFL Media reports that the Ravens have restructured the contract of CB Marcus Peters and in turn created $3.5 million of cap space.
Peters, 28, is a former first-round pick of the Chiefs back in 2015. The Rams acquired him from the Chiefs in exchange for a 2018 fourth- and 2019 second-round pick.
Peters was entering the final year of his four-year, $9.584 million contract when the Rams picked up his fifth-year option. From there, Los Angeles elected to trade Peters to the Ravens for Kenny Young and a 2020 fifth-round pick.
Peters was in line to be an unrestricted free agent in 2020 when he agreed to a three-year, $42 million extension that included $32 million guaranteed in 2019.
In 2020, Peters appeared in 14 games for the Ravens and recorded 52 tackles, one sack, four interceptions, four forced fumbles, two recoveries and nine passes defended.
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