Rainey suffered a broken lower fibula earlier this year during spring practice and has been unable to recover.
A top 25 state prospect out of Stone Mountain, Ga., Rainey redshirted in 2002 and did not play in 2003 or 2004, though he did see action in the junior varsity games.
A "Super Ram" in the weight room, Rainey is an impressive athlete with a 37.5-inch vertical jump. He was also plagued with a shoulder injury throughout his UNC career.