"Up until now, I didn't feel like I could comment too much on the negotiations," Peete said. "But now it's pretty much all done. We're not quite there, but we're almost there. I'm 99.9 percent sure I will be back with the Carolina Panthers. So I'm real excited."
Head coach John Fox said if Peete re-signs with the Panthers that he'd enter training camp as Carolina's starting quarterback.
"I really did get rejuvenated last year and got excited about playing football again, now given a full year knowing there's a possibility I will play a lot I'm preparing myself differently both physically and mentally," said Peete. "I guarantee I will be a better quarterback than I was last season, I will guarantee that."
The Panthers also plan on drafting a quarterback in Aprils upcoming draft and there is still a possibility that the could sign another free-agent quarterback.
Quarterback Jake Delhomme a back up with the New Orleans Saints could be signing with the Panthers as well. Another free-agent quarterback in the mix is Kordell Stewart, who was recently released by the Pittsburgh Steelers.