Report: Ravens, Marcus Peters agree to 3-year, $42 million contract extension

The Baltimore Ravens have reportedly agreed to a three-year, $42 million contract extension with cornerback Marcus Peters, who will rake in a ton of guaranteed cash.

ESPN’s Adam Schefter reports Peters’ contract extension includes $32 million guaranteed and $20.5 million in his first year.

Ravens and Pro Bowl CB Marcus Peters agreed to 3-year, $42 million extension that includes $32 million guaranteed, which is 76 percent of total contract, per source. Deal will pay Peters $20.5M in year 1. The 3-year deal would allow him to hit the free-agent market when he’s 29.
— Adam Schefter (@AdamSchefter) December 28, 2019

Peters is a recent arrival in Baltimore, thanks to a favorable trade for the Ravens that led to the Los Angeles Rams trading for Jalen Ramsey.

Since he started playing for the Ravens this season, Peters has been nothing short of sensational, intercepting three passes (including two pick-sixes). Still just 26 years of age, with 27 interceptions and seven defensive touchdowns in 76 career games, Peters has yet to enter into his prime. Needless to say, this contract extension appears to be a win-win for him and the Ravens.