THIS IS TOTAL BS!!!!
First of all, Peppers is an UFA and he cannot be traded unless he is under contract. Even if Carolina uses the franchise tag, unless Peppers actually signs it, he still cannot be traded. Teams cannot trade the rights to a player, only contracts can be traded.
Secondly, Carolina is not going to use the franchise tag because that is over $20 mill guaranteed. Also, Peppers would not sign the franchise because he can get more than $20 mill in signing bonus in a long term contract if he is on the open market.
So to recap, unless Peppers signs a contract with Carolina he cannot be traded. Even if he is tagged, unless he actually signs the one year deal he still cannot be traded.
This "credible source from Philly" appears to not understand how the CBA works, that is why I am calling BS on this rumor.