Chane Behanan said his 2012 Final Four ring was stolen. (USATSI)
Chane Behanan is scheduled to play Friday night for the Cardinals. (USATSI)

Earlier this week Chane Behanan's 2012 Final Four ring found its way to an official online auction house.

The news lifted eyebrows, and soon after it became known that Behanan's ring was up for an initial bid of $500, it was then taken down by the site. Behanan and his family told the school the ring was stolen.

On Friday, Louisville announced it looked into the matter and has subsequently cleared the Cardinals power forward from any wrongdoing. He will play Friday night against Southern Mississippi, a home game for U of L.

"University of Louisville and law enforcement officials have gathered extensive information into their examination of how Chane Behanan’s 2012 Final Four ring recently appeared on a sports memorabilia auction site and have determined that Behanan was not involved in the process," according to a school release. "After communicating with multiple parties, there was no indication that Behanan had anything to do with the ring being presented for sale or that he had any knowledge the ring had been stolen until information appeared on social media Tuesday night."

The news of Louisville clearing another one of its players following possible NCAA rule-breaking comes a little more than a week after Cards guard Kevin Ware was cleared in light of him driving a friend's 2013 Dodge Challenger. Ware was behind the wheel of the car in October, when he was pulled over for driving 95 miles per hour.

Behanan is averaging 8.6 points and 7.5 rebounds. Louisville is 5-1 and ranked No. 12 in CBSSports.com's Top 25 (and one).