Patrick Peterson spent time at corner and safety during his debut Steelers campaign. His performance in both roles was not at the level team or player expected, however, and it came as little surprise when he was released with one year remaining on his contract.
The soon-to-be 34-year-old is unsigned, something which can be said of a number of veteran defensive backs at the moment. Many will likely find deals somewhat soon, and Peterson is among the options teams will be considering at the onset of training camp later this month. He is open to a Steelers reunion, but failing that he aims to be prepared for an agreement sending him to a new team.
Peterson noted during a recent appearance on his All Things Covered podcast that he will “definitely be ready” to join a suitor this summer (video link). The 2010s All-Decade member is now three years removed from the end of his decorated Cardinals tenure, having played in Minnesota for the 2021 and ’22 campaigns before his Pittsburgh one-and-done. While he drew a strong PFF coverage grade in 2022, Peterson’s evaluations in that regard have generally seen a drop off compared to his prime. As a result, his late-offseason free agent market will be interesting to monitor.
The safety position in particular has been adversely affected from a financial standpoint this offseason. Several established contributors at that spot were let go in the spring, and many have yet to land a new deal. At this point, the expectation is that players will need to settle for low-cost deals covering the 2024 campaign in a bid to rebuild their value. Peterson spoke about the devaluation of defensive backs experienced amongst many older but accomplished players this year.
“What do you think it is about the corners and the safety market at this day and age?” the eight-time Pro Bowler asked. “We know it’s a passing league, right? Why do you see so many high-caliber guys who’ve played at a high level – defensive backs – still free agents right now?”
Co-host Bryant McFadden noted that the salaries for veterans who sign before Week 1 are guaranteed for the full campaign, something which could provide an incentive for teams to wait on the DB market even further. The beginning of training camp will nevertheless likely prove to be an important checkpoint on the offseason calendar for Peterson and a host of other unsigned players.