Preston was also suspended for Kentucky's season-opener for missing curfew and class.
Kansas freshman Billy Preston will not play against Kentucky in the State Farm Classic as the school looks into a car accident he was involved in over the weekend.
"On Saturday, Billy was involved in a single-vehicle incident on-campus," coach Bill Self said in a statement released by the program. "There were no injuries but Billy's car sustained damage. After I learned about the incident, I reported it to our administration. The administration determined that we needed a clearer financial picture specific to the vehicle, we decided to hold him out of tonight's game and will continue to do that until the review is complete.
"Billy was informed right before our pre-game meal. Needless to say he was disappointed and crushed. He was very excited to make his KU debut. Wee hop to have the situation resolved as soon as possible."
It is not clear whether the "clearer financial picture" refers to the damage caused to the car or how Preston paid for the vehicle, or something else entirely.
It's the second consecutive game that Preston, a five-star forward out of famed Oak Hill Academy, missed despite being healthy. Preston was suspended for Kansas' season-opening win over Tennessee State for missing both curfew and class.