It's now unknown if this will be his last season in the league, as he even considered retirement before signing a contract to return with the team this season. The person spoke to The Associated Press on Wednesday on condition of anonymity because the team does not release financial terms of contracts.
The Panthers also officially announced acquisition of Eagles wide receiver Torrey Smith in exchange for cornerback Daryl Worley, which was reported last week. The North Carolina native led the Panthers alongside Mario Addison with 11 sacks.
Peppers signed an incentive-laden deal with the Panthers past year, and proceeded to max out on the incentives to make a total of $4.25 million.
The Panthers will happily have Peppers back as they look to make another playoff push in 2018.
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Peppers would not disappoint in his rookie season with Carolina, finishing the season with 12 sacks and five forced fumbles despite playing in only 12 games.
Peppers helps provide some depth at defensive end after starter Charles Johnson was released earlier this offseason.
Peppers ranks fourth on the NFL's all-time sack list with 154.5. He now needs just six sacks to pass Kevin Greene and move into third place all-time.
The former UNC standout has had a storied NFL career after being drafted by the Panthers with the No. 2 overall pick in the 2002 NFL Draft.
Peppers has played in 250 career games, tied for the seventh-most of any defensive player in National Football League history. He has made the Pro Bowl nine times, AP All-Pro First Team three times and was named to the NFL All-Decade Team of the 2000s.