Ravens, CB Marcus Peters agree to contract extension; deal is reportedly for three years, $42 million

[www.baltimoresun.com]

The Ravens have reached an agreement on a contract extension with Pro Bowl cornerback Marcus Peters, the team announced Saturday, rewarding a well-traveled but proven ballhawk who’s helped transform the team’s defense.

The extension is reportedly a three-year deal through 2022 worth $42 million, including $32 million guaranteed. The contract also will pay Peters $20.5 million next year, according to ESPN. Only five cornerbacks this year were under contract for more than $14 million annually, his extension’s yearly rate.

Peters, a two-time All-Pro pick who turns 27 next month and was set to hit free agency this offseason, has re-emerged as one of the NFL’s top cornerbacks following a midseason trade. He has returned three interceptions for touchdowns this season, two with the Ravens, and sealed a win over the Buffalo Bills in Week 14 with a last-minute deflection on fourth down.

As Peters has excelled, so, too, has the Ravens defense. When the Ravens acquired him from the Los Angeles Rams in mid-October for linebacker Kenny Young and a 2020 fifth-round pick, he was rated Pro Football Focus’ No. 15 cornerback; he’s now third overall. Since Peters’ debut in Week 7, the Ravens’ defensive efficiency has improved from No. 22 to No. 4, according to Football Outsiders. Heading into Sunday’s regular-season finale against the Pittsburgh Steelers, the team is on a franchise-record 11-game winning streak and has already secured the AFC’s No. 1 playoff seed.