Graves is expected to be able to play basketball again in four to six weeks
The Greensboro, N.C., native started 34 of 36 games in 2009-10 and averaged 9.8 points and 4.6 rebounds per game. He led the Tar Heels with 73 three-point field goals and shot 80.6 percent from the free throw line.
He initially sprained his right ankle on December 30th against Albany, an injury that caused him to miss the game at the College of Charleston on January 4th.
Graves scored 20 or more points three times, including a career-high 25 points against Dayton in Madison Square Garden in the NIT championship game. He made seven three-pointers in that game.