- Jeff Goodman, ESPN Insider
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Nichols made the announcement Tuesday afternoon on ESPN Radio 92.9 in Memphis, Tennessee.
"It was in the best interest of my family and I to decide to transfer from the University of Memphis," he told the radio station. "I want to thank everyone for supporting me in my two years at Memphis. The coaching staff, fans, family and friends. As for me, I think it's best if I move on from here."
Nichols, who averaged 13.3 points and 6.1 rebounds last season before suffering a season-ending ankle injury, was expected to be a candidate for American Athletic Conference Player of the Year. He informed Tigers coach Josh Pastner of his decision about a week ago, sources told ESPN.
Sources also told ESPN that Memphis has refused his request to transfer due to the timing. All of the high school players for this season have made their decisions, and there are few high-level transfers left as well.
Nichols' departure would be a huge blow to Pastner and the program. Memphis finished 18-14 last season and 10-8 in league play, and the Tigers failed to make the NCAA tournament for the first time in five seasons.