The team announced an agreement Wednesday on a four-year contract extension with Peters that will keep him with the team through 2018. Peters was set to earn just shy of $10 million in 2014, the final year of his contract.
Peters' agent, Vincent Taylor, told NFL Media Insider Ian Rapoport that the new deal has $19.55 million guaranteed on a four-year, $41.3 million extension. The total deal is for $51.3 million over five years. Taylor, who praised Eagles general manager Howie Roseman for allowing Peters to retire as an Eagle, also informed Rapoport that Peters will earn $10 million in bonuses before July 1.
It's a big win-win for both sides. The Eagles got Peters under contract for a relatively reasonable price considering he has been a first-team All-Pro tackle in two of the past three seasons. Peters, at 32 years old, got a lot more guaranteed money instead of risking another potentially serious injury in 2014.
It's a remarkable moment for a player who originally was drafted by the Buffalo Bills as a tight end. (They moved him to the offensive line midway through his rookie season.) It's also a reminder that Philadelphia's trade for Peters back in 2009 for a first- and fourth-round pick was a huge steal.
Peters started off slow last season, but he looked like his old self by the end of 2013. Peters' protection was a key to Nick Foles' breakout campaign.
Having Peters long term means that last year's No. 4 overall pick, Lane Johnson, won't be switching positions to left tackle anytime soon. With Johnson and guard Evan Mathis both signed through 2016, Kelly will have enviable continuity on his offensive line.
There was a lot of discussion about what kind of players Kelly would bring in to "fit" his system. But his first season at the helm largely was about identifying the right guys who already were on the roster.