I'd say he would have some value for a team that wants to win now. If this whole situation had come up prior to the draft, I'd be willing to bet some team would have been willing to give up a 2nd or 3rd round pick. That would also had meant allowing him to work into any new system he'd be put in, which isn't as big a factor for RBs as QBs of course but still can be a factor.
Now with the season just about to start, teams aren't as willing to pull that trigger of giving up a high round pick for a guy in a position that may or may not be a difference maker. That and the new CBA making draft picks more valuable also plays a factor.