Miami guard Isaiah Wong appears to be entering an NIL dispute with local billionaire John Ruiz and his company, LifeWallet.

LifeWallet has been publicly funding NIL deals for numerous Miami athletes this spring, including Kansas State transfer guard Nijel Pack. He reportedly will earn $800,000 over the next two seasons from LifeWallet after transferring to Miami.

Wong, who Ruiz says is already “under contract” with LifeWallet, has now issued an ultimatum. He’s asking for his NIL money to be increased or he will enter the transfer portal.

“If Isaiah and his family don’t feel that the NIL number meets their expectations they will be entering the transfer portal tomorrow, while maintaining his eligibility in the NBA draft and going through the draft process,” Wong’s agent Adam Papas told ESPN on Thursday evening

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Wong was a key member of Miami’s run to the Elite Eight back in March. That was the program’s first-ever trip to the Elite Eight.

Ruiz responded quickly on Thursday night and refused to re-negotiate a deal with Wong.

“Isaiah is under contract,” Ruiz said in a text message to ESPN. “He has been treated by LifeWallet exceptionally well. If that is what he decides, I wish him well, however, I do not renegotiate! I cannot disclose the amount, but what I can say is that he was treated very fairly.”

He commented further on Twitter:

The deadline to enter the transfer portal and maintain eligibility for next season is May 1.