[2] Peterson was the head coach of the Tennessee Volunteers basketball team for four years before being fired in 2005.

[9] He played basketball for Dean Smith at University of North Carolina at Chapel Hill where he was a roommate of Jordan, who later was best man at Peterson's wedding.

[9] In his first stint as head coach at Appalachian State, he led the Mountaineers to the Southern Conference Tournament Championship during the 1999–2000 season.

[9] In 2018, Peterson became the interim general manager for the Hornets when Rich Cho was fired by the team.

[10][11] The position was permanently filled near the end of the season by former Los Angeles Lakers general manager Mitch Kupchak.