The guy is an ass though. You don't remember last season when he refused to dress as a backup and made Kelly list him as inactive? He's talented, but not exactly the guy I'd want to keep around younger players.
Well, two things. First, that was a rumor. Second, if it was true it's probably because he realized Chip Kelly's offensive speed was dumb and ruining the end of his career. That pace probably took a year off of Peters' career. I think if Doug asked it would be a completely different story. I think I also recall him being a good role model and coach like figure to other offensive lineman, and really taught a lot about technique. We know Doug is not against keeping players like that around.
I think Peters is owed $11m with $2m guaranteed next season. If they offer him a three year $15m restructure with $5-8m guaranteed, he's going to make more money rather than just get cut, and be on a team that looks like they'll have a shot at playoffs for the next few years. That wouldn't really put their cap in a bad position, it would still free up $6m in cap next year, and it might work out for both sides. The other choice is cutting him, which is probably worse for him.