The release claims that Nicks was one of five indivduals who provided "impermissible gifts of cash and jewelry and impermissible assistance with lodging, travel, transportation and entertainment" to UNC football team members."
Nicks was accused of providing $3,300 in benefits.
The release stated that Nicks and the two other former UNC players "thought they were helping out friends and fellow Tar Heels."
The improper benefits given by Nicks and former teammates Mahlon Carey and Omar Brown were discovered as part of what the university called "a fact-finding part of the review."
The release added: "Although the investigation remains ongoing, there is no evidence that links (Nicks or the others) to inappropriate relationships with agents, prospective agents or runners."