This is what came across the wire, for those that care to read it.
Point Guard To Explore Options
by Dave Telep of Scout.com, April 1, 2006 at 2:33pm ET
According to mulitple sources, Cincinnati freshman point guard Devan Downey has asked for his release from the Bearcats program and has been granted the release.
Sources at the Final Four indicated that the Bearcats would make every attempt to keep Downey in the fold. Expect programs like Mississippi and Wake Forest to potentially make a run at him.
Bearcat Insider is doing our part to talk with the UC SIDs as we speak. Look for further information of the course of the day.
I don't put much faith into the "everything they can to keep him in the fold" comment. You don't ask for a release if there is a chance you might return.