However, as many expected, he wasn't a free agent for long and has been quickly signed up by the Kansas City Chiefs, according to reports.
The move sees the former Bills starter link back up with former head coach Andy Reid and join one of the most explosive offenses in the National Football League.
McCoy all set to join Chiefs
McCoy spent the last four seasons in Buffalo and, prior to that, he was with the Philadelphia Eagles for six years.
The 31-year-old played an instrumental part in the Bills getting to the playoffs back in 2017, but his form dipped last season.
The stats back this up as well as the running-back rushed for 514-yards and averaged just 3.2 yards per carry. This was the first season, in his 10-year career, that McCoy failed to reach rushing 600-yards.
Although many expected McCoy to play a big part with the Bills this season, the writing may have already been on the wall in the offseason.
New team for veteran running-back
Buffalo brought in veteran running-back Frank Gore in the offseason, while they also drafted rookie Devin Singletary in the Third Round. Former Jacksonville Jaguars back-up also landed in Buffalo.
However, his career stats are up there with the very best. McCoy has 10,606-yards and 69 rushing touchdowns in 147 games.
The six-time Pro Bowl running-back has had six 1,000-yard seasons in the NFL and his stand-out year was in 2013, where he had a career-high 1,607 rushing yards.
McCoy could feature in Week 1 for the Chiefs, who are on the road at the Jaguars.