Post-retirement
After leaving the NBA, Petersen worked for the National Basketball Players Association in their player programs division, facilitating seminars in NBA locker rooms in topics such as HIV and AIDS, financial planning, substance abuse and career planning for life after basketball. He also coached junior high, high school and AAU basketball teams in La Jolla, California and Minneapolis.
In November 2008, Petersen was named assistant coach at the WNBA's Minnesota Lynx, a position he still holds. Subsequently, he worked as a television analyst with his hometown's Minnesota Timberwolves.
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