Per ESPN's Adam Schefter, talks between the Chiefs and Rams are in the final stages with a deal expected to be agreed on as early as Friday "barring an unexpected snag." NFL Network's Ian Rapoport reported the Chiefs would receive a package of draft picks in return for the corner.
Rapoport noted the Rams will move on from Trumaine Johnson with the addition of Peters.
Peters, 25, registered 46 tackles, five interceptions, four forced fumbles and two fumble recoveries in the 2017 season. Pro Football Focus gave him a grade of 85.7 for the 2017 season, ranking him as the No. 17 cornerback in the NFL.
He was voted to the Pro Bowl after the 2015 and 2016 seasons and was an Associated Press first-team All-Pro selection in 2016. Quarterbacks have avoided throwing against him, as Eric Eager of PFF pointed out:
Why would the Chiefs move on from one of the best young cornerbacks in the NFL?
While Peters is undoubtedly a talent on the field, other issues have cropped up. As Mike Florio of Pro Football Talk wrote: "The Chiefs became sufficiently exasperated with Peters last year to suspend him for one game. Specific events, if any, preceding those that prompted the suspension aren't known."
Most infamously, Peters threw an official's flag after disagreeing with a call late in a Chiefs loss to the New York Jets in December and walked off the field before returning without his helmets and socks. Peters thought he had been ejected from the game.
"We can't have our Pro Bowl corner getting tossed out the game," Chiefs safety Ron Parker told Lorenzo Reyes of USA Today after the incident. "He got caught in his emotions at the time. The game had been back and forth and it was a close game. He got caught in his emotions."
The Rams will hope Peters has a better grasp on those emotions going forward, as he's emerged as a truly elite cornerback. For the Chiefs, however, that wasn't enough to keep him in Kansas City, a fairly stunning development. Young and dynamic cornerbacks aren't often traded, but Peters apparently wore out his welcome.
Los Angeles is coming off a surprising 2017 season, winning the NFC West with an 11-5 record. Trumaine Johnson, who under the franchise tag, appeared in all 16 games and tied for second on the team with two interceptions.
Adding Peters gives the Rams assurance in the secondary. Troy Hill is an exclusive-rights free agent, and Nickell Robey-Coleman is set to enter unrestricted free agency.