Peay grew up in Columbia, Maryland and attended Oakland Mills High School where he played on the boys' soccer team.
In 1996, Peay saw time in twenty-four games, twenty-three, as United went to the MLS championship and the U.S. Open Cup title.
[2] After George Mason, he accepted the men's head coaching job at the University of Richmond, which he started effective February 1, 2009.
[3] In July 2012, Peay resigned from the men's head coaching job at Richmond to accept a position with the USMNT.
[4] In February 2019, Peay joined the North Carolina FC staff as an assistant coach to Dave Sarachan.
[5] On November 25, 2019, Peay was announced as the first ever head coach of the newly formed Revolution II, starting competition in the USL-League One in the 2020 season.
[6] On September 12, 2023, Peay was announced as interim head coach of the New England Revolution, replacing Richie Williams who had been serving in the same role since August 1, 2023 when Bruce Arena was as placed on administrative leave by the team on amid allegations of "insensitive and inappropriate remarks".
[9] On December 19, 2023, the Revolution announced that it had appointed Caleb Porter as its head coach, taking over from Peay.