The team will remain in contact with Peters through the process, NFL Network's Mike Garafolo added.
In a market devoid of quality left tackles, Peters could see another big payday from a team in need of a quality blocker. The reality of the market likely drives the Eagles decision. Based on Garafolo's report, this feels like a situation where if Peters doesn't find the deal or location he's seeking, Philly could reassess.
The nine-time Pro Bowler spent the last 11 seasons as a rock on the Eagles' left side after five seasons in Buffalo. When healthy, Peters remains a top-tier left tackle, earning the No. 6 overall tackle grade from Pro Football Focus in 2019.
Even at 38 years old with injury history, Peters figures to garner interest from plenty of teams looking for a solution to their left tackle issues this offseason.