Yes. You locked Peters up with a long deal. He wants to re-negotiate with three years left. If you rip up, or even modify, his current deal, there is nothing from stopping him from wanting more money in a year. Can the Bills really afford pay him more than, say Faneca? Pace and Jones are making in the neighborhood of $7.5MM. Faneca is playing for about $8MM. Long signed with the fish for over $57MM with $30MM signing bonus. You can make him the highest paid OT in the game, and it isn't going to mean anything in a year or two when other OTs are being paid more. He is just going to whine and hold out around 2010.
My solution: He is currently in the $4MM range. Keep the current contract, but give him a small raise (take him up to about $6.5MM and add bonuses for Pro Bowl etc). Move it up to about $8MM for next year and tell him that they will give him a new deal for 2010. This cuts one year off of his current deal and still gives him more money. He would now be paid more than Walker and close to Dockery. He would still be less than Pace and Jones, who have both been doing it longer than Peters. At that point, STFU and get your arse to practice.
I wouldn't argue with that.
Happens every year. Rookies are getting an obscene amount of money before they ever make it into camp. All-pro veterans are playing for less money than rookies. This has to be addressed in the new CBA or the NFL is in trouble. Now, if we want to compare the money with the three players you have listed, where was Peters drafted in relation to Thomas, Long and Brown?