The move is primarily for salary cap reasons, as it will save New York $3.75 million next year. The team had already started shedding money with the release of linebacker Michael Boley, who made 92 tackles and intercepted three passes this year.
Bradshaw has been an important member of the Giants during his time with the team from 2007-12, piling up 4,232 yards and 32 touchdowns along with two Super Bowl championships.
In 2012, Bradshaw was productive with 1,015 rushing yards on 4.6 yards per carry. The Marshall University product also caught 23 passes for 245 yards.
The biggest problem for Bradshaw over the years has been his inability to stay healthy. Over his six-year career, Bradshaw has only been able to play 16 games once, back in 2010.
Bradshaw's other issue has been fumbling, something that has drawn the ire of head coach Tom Coughlin.
The writing has been on the wall for some time now after Big Blue addressed their running back situation with a first-round selection of David Wilson last season. Wilson saw an increased role down the stretch, signaling a new day for New York's backfield.
Now that Bradshaw is on the market, the real question is where will he land? Bradshaw is still a young player with some tred left on his tires who can help a team as part of a multi-back system.
A few teams to keep an eye on are the Kansas City Chiefs, Oakland Raiders, Miami Dolphins, Green Bay Packers and Detroit Lions.
Kansas City and Oakland would both be looking for backs who can spell Jamaal Charles and the oft-injured Darren McFadden respectively, while Miami, Green Bay and Detroit will all be looking for starters.
Miami would be the clubhouse favorite in all of this considering it almost signed Bradshaw before he went back at the last minute to New York in the offseason of 2011. With much speculation that the Dolphins are going to let Reggie Bush walk, they will need a replacement to compliment Daniel Thomas.
Other running backs that are free agents on the market are Cedric Benson, Rashard Mendenhall, Shonn Greene and Felix Jones.