McCaffrey (foot) was waived by the 49ers on Wednesday.
McCaffrey sat out the entire preseason due to the foot injury that will require surgery, which killed his chances of making the team. Though he's only entering his third season in the professional ranks, McCaffrey has already bounced around the league quite a bit with stints in Oakland, Green Bay, New Orleans and Jacksonville prior to signing with San Francisco last December. Assuming he clears waivers, McCaffrey will revert to the 49ers' injured reserve list.