UPDATED: Wong backs off transfer portal ultimatum with prospects for more

At the end of the day, John Ruiz stuck by his proclamation that LifeWallet would not renegotiate Isaiah Wong's NIL deal.

But Ruiz did offer to help Wong find additional NIL opportunities, possibly with a new NIL Collective which is in the process of forming.

Wong said Friday that his status will remain the same after he, his family and repsentatives discussed the situation. Thursday night he threatened to transfer as a protest of sorts to receiving a lesser deal than Kansas State transfer Nigel Pack.

Wong agreed to a $100,000 NIL deal with LifeWallet on April 12 and Pack signed a $400,000 a year deal 11 days later.

Friday night he released a statement.

“The recent statements made without any authorization on my behalf do not reflect my views and in no way was I willing to jeopardize my relationship with LifeWallet or the University of Miami,” Wong wrote. “After discussing the matter with my family I was able to clarify my intentions and resolve any misunderstandings with both organizations and have agreed to move forward with established agreements made prior to any confusion. My priority is to act with the highest level of character and integrity. Any further statements will be made by me personally.”

Wong's NIL agent, Adam Papas of NEXT Sports Agency, had communicated the demands through ESPN on Thursday night.

"If Isaiah and his family don't feel that the NIL number meets their expectations they will be entering the transfer portal tomorrow, while maintaining his eligibility in the NBA draft and going through the draft process," Papas said.

Wong, a two-time all-ACC player and the second-leading scorer on a Hurricanes team that reached the NCAA tournament's Elite Eight, declared for the draft earlier this week while maintaining the option of a return to the Hurricanes, which would involve the NIL deal he signed with LifeWallet.

"Isaiah would like to stay at Miami," Papas said. "He had a great season leading his team to the Elite Eight. He has seen what incoming Miami Hurricane basketball players are getting in NIL and would like his NIL to reflect that he was a team leader of an Elite Eight team."

Ironically, Papas was the agent who also negotiated the Pack deal, which covered two years at the $400,000 per year price tag. Now he's coming after Ruiz for more money for Wong.

"It's a unique situation just completing Nijel Pack's deal with Miami," Papas said. "Understanding what John Ruiz is trying to do with the NIL space and the city of Miami, we feel the value of Isaiah Wong should meet or exceed the value of an incoming transfer."

Ruiz was informed of Papas comments by ESPN and didn't seem to take kindly of the essential hostage demand.

"Isaiah is under contract," Ruiz said in a text message to ESPN. "He has been treated by LifeWallet exceptionally well. If that is what he decides, I wish him well, however, I DO NOT renegotiate! I cannot disclose the amount, but what I can say is that he was treated very fairly."

Everybody calmed down Friday.