Free agent LB Mike Peterson will work as an undergraduate assistant coach at the University of Florida this season. Peterson, 37, played his college ball at Florida, and he's returning to finish his sociology degree while also getting his feet wet in coaching. He appeared in all 16 games for the Falcons last season, notching 14 tackles. Peterson isn't retiring, but is keeping himself busy in case the phone doesn't ring.

Falcons re-signed LB Mike Peterson. One month removed from his 36th birthday, Peterson is a depth signing after ending 2011 on injured reserve with a torn triceps. He appeared in 15 games last season, but started only four, the fewest of his 13-year career. He'll be a strict backup if he cracks the Falcons' 53-man roster.

ESPN's Pat Yasinskas confirms that the Falcons "aren't likely" to re-sign free agent LB Mike Peterson. Peterson, 36 in June, ended last season on injured reserve with a torn triceps. His career may be over. The Falcons are known to be looking at "street free agent" Channing Crowder, who has experience starting at all three linebacker positions and could replace Peterson as Atlanta's utility backup.

The injury that landed veteran Falcons LB Mike Peterson on injured reserve Wednesday is a torn triceps. The 35-year-old reserve needs surgery. Limited to just four starts in 15 games this season, Peterson should be healthy by next summer, but could have a hard time cracking a 53-man roster.

Falcons placed LB Mike Peterson on injured reserve, ending his season.

Coach Mike Smith said that Mike Peterson and Stephen Nicholas are battling for one starting spot. We expect Curtis Lofton to start in the middle and Sean Weatherspoon to man the weak side. That leaves the super sub Nicholas and the 35-year-old Peterson. At the very least, Peterson will sub out on passing downs. It's more likely that Peterson serves as a fourth linebacker this season.

Falcons agreed to terms with LB Mike Peterson. The Falcons will have continuity in their linebacker corps with Peterson and Stephen Nicholas returning. Though Peterson was Atlanta's weak-side starter for much of last season, 2010 first-round pick Sean Weatherspoon is going to get the job in short order. Peterson is only a two-down run stuffer at age 35.

ESPN's Pat Yasinskas believes the Falcons will still re-sign free agent LB Mike Peterson. Peterson's status is in doubt after the Falcons agreed to a five-year deal with super sub Stephen Nicholas. But Yasinskas sees Peterson back as a starter on the outside and Nicholas providing his usual excellent depth. We'll see if the Falcons have enough money as they are still expected to re-sign RT Tyson Clabo and go after a pass rusher.