Maybe, but if that's what he wants, why bother extending him with a year and a team option for another left? It's going to cost you the same, and you'll save a year on a dirt-cheap contract.
He's worth $12M per season, but he'll have to wait two years to get to it, and only make $2.8M in 2014. How much is an extra $6M in salary and a new signing bonus worth to Peterson in an additional year? That's the savings you expect to get when you extend him early.
Again, that's the point of extending someone early. He might be worth Flacco and Ryan money on the open market, but he's not on the open market.
And not only is he not on the open market, he's making absolute peanuts this year AND next year. So he can take (comparatively) less money this year and have some income assurance, or he can roll the dice for another TWO years in the hope that he continues to improve and doesn't get injured.
Cam Newton is making less than Matt Moore this season. Is he really going to quibble over an extra million or so per season when he's going to triple his salary?