Freddie may have to start up to 4 games to open the season if ML gets suspended that long, we need him. Peters plays games nearly every 2 years asking for more $, throws fits / misses valuable time, and was a statistically aweful last season without an injury. Over paying him when he is replaceable versus paying someone normal $ we cannot replace is 2 different sides of the street.
Freddie can be kept for ~$2.5 M a year / 4 years and assures we have a competent back up to run the ball, not alot of money in the grand scheme of NFL things.