More details on the Bills' trade of OT Jason Peters

If you've had a busy Friday and missed all of the craziness, here's what you need to know: the Buffalo Bills on Friday agreed in principle to trade OT Jason Peters to the Philadelphia Eagles in exchange for the Nos. 28 and 121 overall picks in this year's NFL Draft (first and fourth round picks), as well as a yet-to-be-officially-disclosed day two pick in the 2010 draft.

The trade ends months of speculation and over a calendar year of headache for the Bills.  The deal is not yet official, as the Eagles won't cement the trade until they reach a contract extension with Peters and agent Eugene Parker.  That is expected to happen sometime this weekend, and perhaps as early as later tonight.

Now that the initial shock has worn off, let's dive into some of the more minute details surrounding the deal:

Bills draft picks updated
The Bills now have two first-round picks in this year's draft - No. 11 overall and No. 28 overall.  They also now have two fourth-round picks, Nos. 110 and 121.  The team now has nine total picks heading into draft weekend, including round two (No. 42), round three (No. 75), round five (No. 147), round six (No. 183) and round seven (No. 220) selections.

ESPN.com's Tim Graham, meanwhile, believes that the 2010 compensation will be a sixth round pick.

Judge: Bills turned down first- and third-round picks in 2009
CBS Sports' Clark Judge reported on the trade earlier this afternoon and included this little nugget:

Initially, one source close to the Eagles said, Buffalo considered making the trade for a first- and third-rounder this year but, in the end, held out for three draft picks to give the Bills more flexibility.

The Eagles' third round pick is No. 85 overall - and they've obviously retained that selection.  The Bills chose to take an extra pick next season, sacrificing 36 spots in this year's pecking order in the process.  Feel free to speculate on possible reasons why - if you're asking me, I think the decision is tied to the ultimate fate of WR Roscoe Parrish, another Bill currently on the trade block.

Giants in the picture as well?
In ESPN.com's coverage of the trade, it's mentioned as a casual aside that the New York Giants showed interest in Peters as well.  We had also heard word that the Detroit Lions were involved in conversations.  These are the first confirmed reports of other teams being interested beside Philadelphia, and the interest from these teams may have been the driving force behind the Eagles' willingness to move quickly on the trade front.  Philadelphia has also reportedly been targeting Peters since the team's January exit from the playoffs, which may have given them an edge in negotiations.

Is Eugene Parker in Philly or not?
ESPN is reporting that Peters has passed his physical and the Eagles will continue negotiating with Eugene Parker, Peters' agent (and a man with a bit of a reputation amongst Bills fans), throughout the rest of this evening.  However, AFC East blogger Tim Graham had a slightly different take earlier this afternoon:

Peters is meeting with the Philadelphia Eagles sans agent Eugene Parker, and talks are going extremely well. So well, in fact, that the deal could be announced Friday. The initial expectation was it could take until Sunday.

We're guessing that Parker is in the building - negotiations are reportedly moving along quicker than anticipated, which would be indicative of the presence of the agent.  Whether or not Peters gets the type of money he was asking of the Bills - reportedly in excess of $11 million annually - remains an intriguing talking point in these parts.

We do not anticipate hearing much more about the Peters trade this evening unless negotiations heat up.  Remember, this isn't officially official until Peters has a new deal in place with Philadelphia.  This story is still worth keeping an eye on - and we'll do our best to keep you updated.

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