Memphis Star James Wiseman Ruled Ineligible, Withdraws Lawsuit Against NCAA

Memphis superstar James Wiseman -- the projected #1 pick in the 2020 NBA Draft -- has been ruled ineligible once again ... after the player withdrew his lawsuit against the NCAA.

The story has been a back-and-forth since the NCAA initially revoked his eligibility last Friday, claiming ex-NBA star and current Tigers coach Penny Hardaway violated rules by providing $11,500 in moving expenses to Wiseman's family in 2017.

The 18-year-old immediately filed a court order which temporarily halted the suspension and allowed him to play for Memphis while the legal battle raged on last week -- but now Wiseman has waved the white flag.

"It has become clear to Mr. Wiseman that the lawsuit he filed last week has become an impediment to the University of Memphis in its efforts to reach a fair and equitable resolution with the NCAA concerning his eligibility status," Wiseman's attorneys said in a statement.

"Therefore, Mr. Wiseman advised his legal team that he wished to withdraw his lawsuit."

There are rumblings Wiseman is working on a deal with the NCAA to be reinstated this season -- but if not, he's a lock for the NBA next season anyway.