The 7'1" college basketball superstar -- the projected #1 overall pick in the '20 NBA Draft -- got a court order allowing him to play Friday night, minutes after the NCAA had deemed him ineligible.

The scandal is bizarre and complex but boils down to this ... the NCAA claims ex-NBA star Penny Hardaway provided $11,500 in moving expenses to Wiseman's family in 2017.

At the time, Hardway was an assistant basketball coach at Memphis East High School -- where Wiseman played his final two years of prep ball.

Hardaway later became the head coach at U of M -- and now the NCAA says the transaction makes Penny a "booster," which is a big problem.

On Friday, the NCAA announced Wiseman was ruled ineligible to compete and it seemed the 18-year-old's college career was basically over.

But, the University immediately filed for an emergency court order to restore Wisman's eligibility and it was GRANTED late Friday ... so he was able to take the court against the University of Illinois at Chicago.

Wiseman was a 5-star recruit coming out of Memphis East HS and flashed big-time in his college debut, scoring 28 points and grabbing 11 rebounds.