After playing as a midfielder for IK Skovbakken and Helsingør IF,[3] Peitersen graduated in Sports and History degrees at the University of Copenhagen in 1972.
[4] He then went on to become a sports consultant in Zambia for the Danish International Development Agency (DANIDA).
[2][5] In 1975, Peitersen became employed as a gymnasie (high school) teacher at Rungsted Gymnasium, before joining the UCPH Department of Nutrition, Exercise and Sports in 1981.
[4] In 1987, he shortly coached Brøndby IF after the departure of Ebbe Skovdahl to Benfica, where he led the team to the Danish championship in the same year.
Since 1984, Peitersen has been a pundit on several Danish television channels, including DR, TV3 and Kanal 5.