Being a buckeye fan, Clarett was awesome for them and helped them win a title, then things changed. Denver has a few solid backs already and as rabidgopher04 says, Denver has average backs get 1000+ yards.
I would assume another NFL team would pick him up, and I believe a CFL team up here has his rights if he were to not play in the NFL (he would still have to sign with the team though of course).
Years ago he looked so good and was to be a big pick...when the last draft came many people thought he would go in the 7th round. :-?