Pederson is expected to compete with Craig Nall for the right to back up Brett Favre. He also is the holder on extra points for kicker Ryan Longwell. Davis will compete with compete with David Martin for the No. 2 tight end spot behind Pro Bowler Bubba Franks.
Pederson, 35, was Favre's in 1998 and 2001. In between those seasons, he was a starter in Philadelphia in 1999 and in Cleveland in 2000 with little success. Last year, he completed 19 of 28 passes for 134 yards and one touchdown with no interceptions for a 90.5 passer rating. He saw most of his action Oct. 20 in the second half when Favre suffered a sprained knee early in the third quarter. He also mopped up for Favre Nov. 4 late in the game in a blowout win over Miami.
Davis, who turns 31 on June 30, began the 2002 season as the No. 3 tight end but passed Martin on the depth chart midway through the season. He played in nine games, starting in two, and was inactive for six games. He finished with nine catches for 107 yards and one touchdown.
Davis has battled keeping his weight down in recent seasons, but his agent, Deryle Daniels, said in a published report that Davis has been working out this off-season.