Tarrant transferred to Alabama after playing two seasons at Tulane.
After sitting out the 2013-14 season in compliance with NCAA rules, he averaged 13.1 points, 2.2 rebounds and 2.2 assists while shooting 41.3 percent from the field in 25.8 minutes per game this season.
"I met with Ricky on Wednesday and shared with him that we wanted him back next season," Coach Avery Johnson said. "We told him it would be competitive but he would have the opportunity and we would help him get better so he can reach his goals. There were no gray areas and everything was crystal clear. He wanted to talk it over with his family and once he did that, he called back and asked us for his release yesterday, which we granted."
"It is not a bad reflection on Ricky or anyone else," Johnson added. "He has to do what's in his best interests and we wish him nothing but the best of luck."
- Chris Johnson