Louisville forward Chane Behanan was cleared Friday of any involvement in the auction of his 2012 Final Four ring on a sports memorabilia site, Louisville and law enforcement officials said in a release.
The investigation collected extensive information regarding the ring and the auction, but found no indication that Behanan was aware of or involved in the process.
Behanan is averaging 8.6 points and 7.5 rebounds this season for the Cardinals.
Before last season, Louisville players were given personalized light gold rings featuring a large diamond centered in ruby red and surrounded by a circle of smaller diamonds for playing in the Final Four.
Behanan's mother, Heaven Warren, said her son gave his ring to his grandmother, who didn't know it was missing until Warren called her after receiving a text that it had been posted for bidding online. Warren said her mother was planning to file a police report in Cincinnati, where she lives.
Behanan was "very upset" upon hearing the ring was missing, Warren said, adding that he was aware that selling memorabilia is prohibited by NCAA rules.
"Why would he sell his ring with his name on it?" Warren said. "He gave that to his grandmother to keep."
The junior, who recently returned from a 26-day suspension for violating unspecified team rules, also has jewelry from Louisville's other postseason achievements. Warren said Behanan wears the ring from the Cardinals' NCAA championship this past spring every day.
Information from The Associated Press was used in this report.