After initially standing firm in not releasing Austin Nichols from his basketball scholarship, the University of Memphis has reversed their decision, but with conditions.

Speaking on a Memphis radio station, Nichols said he wanted to transfer and was seeking a release from his scholarship, ESPN's Jeff Goodman reported. But the school's athletic department firmly stated they would not grant the release.

However, the Associated Press reported, the school changed its tune just a matter of hours later. The American Athletic Conference (AAC) standout forward initially asked for his released in late June, but the news did not break until he discussed it on the radio Tuesday.

"While we are disappointed in this outcome and the timing of the situation, we respect his wishes to pursue other opportunities," Tom Bowen, Memphis' athletic director, said in a statement obtained by the AP.

CBS Sports' Gary Parrish learned the conditions for Nichols' release include AAC teams and any nonconference opponent the Tigers play this year, which thus far includes Oklahoma, Ohio State, South Carolina and Ole Miss. Parrish also learned Memphis will be able to name four "to-be-determined schools" where Nichols cannot transfer.

Goodman learned Memphis is also blocking Nichols from transferring to nonconference schools the Tigers play next season, which includes Virginia, Iowa and Providence. If Nichols does transfer to a blocked school, he will lose his scholarship.

Citing unnamed sources, ESPN reported Notre Dame and Marquette are early contenders for Nichols' landing spot. Nichols would also likely have to sit out the upcoming season if he goes to a Division I program, per NCAA transfer rules.

It is unclear if Nichols would be a candidate for a waiver allowing him to play immediately, because he did not disclose the reason for his abrupt transfer.