I saw this too, only I hopes its not true. I liked Cully and think this team could use a year without defections. Plus, its not like we have recruits knocking down our doors right now that we know of. And we don't have any need to free up a scholly that I can tell.
I'm with you. Assuming Cully's health would let him return to 100% I think he would have been useful for this team going forward. Maybe not as a starter, but at least as a steady 15-20 minute player who can handle the ball, penetrate some, and hit opens shots.
We need more ballhandlers, not less. If we're losing Cully I'd almost consider trying to find a a true point guard as well as a combo-type guard with two of our three scholarships.