According to ESPN's Adam Schefter, Anderson is planning to transition into coaching and will likely begin that career at a Power Five conference program. Anderson told Schefter, "Details soon."
The 29-year-old went unsigned during the offseason after appearing in two games for the Detroit Lions in 2019.
Anderson entered the NFL as an undrafted free agent out of the University of California in 2013. He signed a three-year deal with the Denver Broncos and battled his way onto the roster.
While the 5'8", 225-pounder didn't do much as a rookie, he was a key part of the Denver running game over the next four seasons. In his second campaign, Anderson was named to the Pro Bowl, as he rushed for 849 yards and eight touchdowns while also catching 34 passes for 324 yards and two scores.
The following season, Anderson helped lead the Broncos to a Super Bowl title, rushing for 234 yards and two touchdowns in three playoff games.
The California native recorded his only 1,000-yard rushing season in his final campaign with the Broncos in 2017, notching 1,007 yards and three touchdowns.
He signed a one-year deal with the Carolina Panthers after he was released by Denver, but he was used sparingly in nine games and released again. He signed with the Los Angeles Rams in mid-December, however, and was a major factor.
With Todd Gurley missing the final two games of the season because of injury, Anderson burst onto the scene with 299 rushing yards and two touchdowns in two starts.
Anderson then split carries with Gurley during the team's run to the Super Bowl, rushing for 189 yards and two touchdowns in three games.
Last April, Anderson signed with the Lions, who cut him after two games in which he carried 16 times for 43 yards.
He was never an elite running back, but he was a key player for some good teams and played in two Super Bowls, which is something few players in history can say.