The Ravens have plenty to focus on this offseason in free agency, with quarterback Lamar Jackson obviously taking up most of their attention, but the team has been working to keep another key player off the open market, according to Jeff Zrebiec of The Athletic. General manager Eric DeCosta told the media that he’s been in talks with cornerback Marcus Peters and his representation about remaining in Baltimore.

Peters has been a sparkplug defender ever since winning Defensive Rookie of the Year and leading the league in interceptions in 2015. He made key plays for the Chiefs and Rams before finding his way to Baltimore to form one of the league’s top cornerback duos with Marlon Humphrey. He’s been named a first-team All-Pro twice in his career and is a three-time Pro Bowl selection.

Peters has long been a playmaker in the league, recording at least three interceptions in every season of his career except one. Over his eight years in the league, only seven of which saw him on the field, Peters has reeled in 32 picks with an astounding 822 return yards and six return touchdowns. He has plenty of accolades throughout his career, but with free agency looming, the focus will be on the past two seasons, in which Peters has missed 20 of a possible 33 games.

There’s no denying the talent and passion that Peters possesses, but after a torn ACL sidelined him five days before the 2021 season, Peters’s return to the league in 2022 was perhaps the worst statistical year of his career. In his first season back from injury, Peters only nabbed one interception and recorded a career-low six passes defensed. He still made a number of plays for the Ravens, but on a Baltimore defense that saw a few double-digit leads disappear late in games, Peters sometimes found himself liable for big plays.

Now facing free agency, Peters enters an interesting scenario. If the two most recent years were not taken into consideration, Peters would easily be a top candidate to earn the highest new contract for a free agent cornerback this offseason. He will be competing for that honor with Giants cornerback James Bradberry and Patriots cornerback Jonathan Jones. All are around the same age, but Bradberry and Jones both had much stronger seasons than Peters in 2022.

It will be interesting to see how the situation plays out between Baltimore and Peters before he even gets to free agency. The Ravens enjoyed success in the secondary when Peters, Humphrey, and safeties Chuck Clark and Marcus Williams were on the field this season. When Peters missed all of 2021, though, the Ravens allowed the most passing yards in the NFL. Their depth behind Peters and Humphrey didn’t improve much in 2022, and if Peters departs in free agency, cornerback immediately becomes a top priority for Baltimore.

The struggles the Ravens have had at cornerback behind Peters makes a new deal crucial. The team has had no issue in the past with shelling out dough on defense, much to the detriment of the offense, and at cornerback in particular. They can certainly take a chance on one of the top cornerback prospects in this year’s draft, but why take the risk if you believe Peters can return to form in 2023? The Ravens may also throw the kitchen sink at Los Angeles if Jalen Ramsey becomes available via trade, as has been rumored. Those two options provide the Ravens with the best chance to field a competent secondary, and extending Peters is likely cheaper than trading for and extending Ramsey.

There should be a mutual interest in the two parties reaching new agreement. For Peters, the Ravens will likely offer him a respectable contract due to his known chemistry and familiarity with the team, while other teams may low-ball the veteran cornerback because of his recent struggles. For the Ravens, they may get a discount, as opposed to if they went out and tried to sign Bradberry or Jones, and, in return, give Peters another chance to regain his All-Pro, ball-hawking status.

Regardless, it will be an interesting situation on which to keep an eye. Despite all the focus in Baltimore falling on the offensive side of the ball, Peters is yet another piece that the Ravens have found they struggle to win without. The team needs a top cornerback across from Humphrey, but how much are they willing to pay for one.

The Ravens’ offense was a talking point after their loss to the Browns on Saturday, but the team’s defense suffered a notable loss. Cornerback Marcus Peters left the game with what has been diagnosed as a mild calf strain (Twitter link via NFL Network’s Ian Rapoport).

Rapoport adds that Peters is expected to miss some time, but the injury is not considered long-term. While that can generally be considered good news, any absence from the 29-year-old would be significant. Peters had essentially played on an every-snap basis this season prior to suffering the injury.

The return of the former first-rounder this fall was a welcomed sight for Baltimore, after he missed the entire 2021 campaign with a torn ACL. That gave the team their preferred duo of Peters and Marlon Humphrey on the perimeter, though the former has not seen a return to his All-Pro form in 2022. Peters – the NFL’s interceptions leader since entering the league in 2015 – has just one pick on the campaign. He has added six pass deflections and a pair of forced fumbles along the way.

In coverage, the two-time Pro Bowler has also had a less-than-stellar year. Peters has allowed seven touchdowns and a passer rating over 116 as the nearest defender, both the worst marks of his career. His play has, in part, contributed to Baltimore’s overall struggles against the pass – they rank 25th in the league with an average of 241 yards allowed on average – especially compared to the rest of their defensive statistics.

The Ravens saw multiple depth corners depart in free agency during the offseason, which prompted the signing of Kyle Fuller. He suffered an ACL tear in Week 1, however, leaving the team short on experienced options aside from Peters and Humphrey. 2021 third-rounder Brandon Stephens, fourth-round rookie Damarion Williams and special-teamer Kevon Seymour are among the corners available to fill in for Peters down the stretch.

At 9-5, the Ravens lost their lead in the AFC North during the weekend, but they are still well-positioned to make the postseason. A healthy Peters, in spite of his underwhelming performance to date, would be significant for the team in the final week or so of the regular season and the playoffs, should he be available at that time.

Cornerback was one of the hardest-hit positions during the Ravens’ injury-plagued 2021 campaign. If their two former All-Pros at that spot can return to form this season, though, the team’s defense could be well-positioned for a bounce back. 

Much will therefore depend on the health and play of Marcus Peters. The 29-year-old missed all of last season due to a torn ACL he suffered during the preseason. His absence was compounded by the later loss of Marlon Humphrey, as Baltimore ended the season on a six-game losing streak which cost them a playoff berth. Peters has been successfully recovering during the offseason, however; head coach John Harbaugh said in May that his rehab was “coming along really well.”

Still, as The Athletic’s Jeff Zrebiec notes (subscription required), Peters is one of several Ravens who are candidates to begin training camp on the PUP list. That will raise questions about his Week 1 availability for a time, but assuming he is cleared by the start of the regular season, attention will quickly turn to his financial situation.

Peters has one year remaining on his current deal, at a cap hit of $15.5MM. That figure ranks third in the league this season amongst corners, which stands out for Baltimore given their tight salary cap situation. As a result, Zrebiec names him as a player the Ravens could look to extend “sooner rather than later.” The team has already done so previously, giving him a new three-year deal in December of 2019.

However, as Zrebiec points out, the team will in all likelihood wait to see how well he plays upon returning from such a significant injury. If he plays at the Pro Bowl level he has through much of his time in Charm City, a new contract giving him security for the short- or intermediate-term future (and, perhaps, opening up some financial wiggle room for the team in the process) would make sense. However, if his knee shows ill effects, that would couple with his age to give the Ravens pause regarding another significant investment in him.