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Pittsburgh is set to release Peterson, Adam Schefter of ESPN reports.

Peterson played adequately for the Steelers last season, handling 1,045 defensive snaps across 17 regular-season games, but at 34 years old, the eight-time Pro Bowler isn't quite the player he once was. His release leaves Pittsburgh with $2.9 million in dead cap, but clears up almost $7 million in cap space for the team.

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