Peachey, who could take a role on Ivan Cleary's bench from opening round of the 2023 season, has struggled in recent seasons since leaving the foot of the mountains.
In stints at the Gold Coast Titans, he has struggled to hold onto a singular position, instead being used as Mr. Fix It, before ultimately struggling to gain any first-grade playing time at the Tigers last year.
On a monster contract with the club, he was just one of a string of recruitment decisions who simply didn't work for the Tigers, with the Cowboys-bound former Panther James Tamou being another.
While the Tigers themselves prepare to rebuild in 2023 on the back of a host of signings in the forwards - all of Apisai Koroisau, David Klemmer, John Bateman and Isaiah Papali'i are heading to CommBank Stadium - it was a player swap with Charlie Staines that ultimately allowed Peachey to move from the Tigers to the Panthers.
The 31-year-old, who was born in Western New South Wales, played arguably the best football of his career at the Panthers in 109 first-grade games between 2014 and 2018.
Speaking to The Sydney Morning Herald, Peachey said getting back to where he once was a player, and winning a premiership, were key factors behind his decision to sacrifice money.
“I could have taken the easy option and gone to England, or sat back at the Tigers, but I took less to come here,” Peachey told the publication.
“I want to work hard and see if I can get back to where I once was [as a player]. I took less money to try and win here and hopefully stay [beyond this year], if they want me.
“This is the club that gave me my first opportunity to be a consistent first-grader. It's been awesome to see them succeed, and it's now awesome to be a part of it again.”
Peachey has played a total of 192 NRL games during his time with the Sharks, Panthers, Titans and Tigers since debuting in 2013, while he also has played six games for the Indigenous All Stars and three State of Origins.