Cosby, a redshirt junior, was in his first season at Illinois. He played two seasons at Seton Hall before transferring to Illinois. He sat out last season because of NCAA transfer rules.
"I have a great relationship with my coaches and teammates here at Illinois, but feel it’s in my best interest to seek out a new opportunity," Cosby said in a statement. "I’m thankful for everyone in the program for their support and look forward to the next chapter in my basketball career."
Cosby was averaging 7.8 points and 3.6 rebounds per game this season. He started 13 of the 19 games he played in.
Cosby intends to receive his degree from Illinois and then transfer to another school. If he does graduate, he would be eligible to play immediately at his new school.
- Dan Gartland