This year was an awful market for free agent running backs, most of their potential landing spots already had good RBs. This remains true for Melvin Gordon who is now a member of the Denver Broncos. With an already good one-two punch of Phillip Lindsay and Royce Freeman I don’t see where the Broncos felt the need to sign Gordon.
Everyone loses value. In 2018, Melvin Gordon was arguably a league winner had he not gotten hurt end of the season (I say this as his draft price was late first maybe even second round early.) During this year he received a minimum 50-percent of the team's opportunity for running backs, and averaged 64-percent, which was 11th in the NFL. In 2019, his share of running back opportunities was 72-percent. His four RB1 performances came when he received at least 50-percent of the workload.
Philip Lindsay dominated the time share between himself and Royce Freeman at 56.2-percent to 37.6-percent. Lindsay might have seen a better sophomore season had the Broncos had a better scoring offense.
The Broncos now have two front runners of dual time share backfields and I do not see how they split the workload properly. Royce Freeman now is likely just a high upside handcuff in dynasty, and not worth drafting in redraft. Unless he gets the opportunity, he had with the Chargers, I think it’s safe to say Gordon is a middle range RB2, with upside. Lindsay owners are likely playing with house money. He will likely be the third down back which helps his value in any form of PPR.