Bush's attorneys Ben Crump and Levi McCathern filed the lawsuit on Tuesday ... alleging that a statement that an NCAA official released to media outlets two years ago was flat-out false.

According to the suit, the comment was initially issued by NCAA spokesperson Megan Durham ... after a reporter had asked her whether or not the NCAA would reconsider the previous sanctions it had imposed on Bush in wake of its new NIL rules allowing college athletes to begin receiving compensation for the use of their name, image and likeness.

"Although college athletes can now receive benefits from their names, images and likenesses through activities like endorsements and appearances, NCAA rules still do not permit pay-for-play type arrangements," Durham said, according to Bush's lawyers. "The NCAA infractions process exists to promote fairness in college sports. The rules that govern fair play are voted on, agreed to and expected to be upheld by all NCAA member schools."

Even though the statement itself doesn't include Bush's name, his attorneys say in the docs it was made in direct response to a question about the sanctions on Bush --- and therefore clearly refers to him. They then called the "pay-for-play" portion of it "false, defamatory, and made with malice."

The attorneys claimed the ex-SC star had never been paid by the Trojans to play for the school -- while adding that the NCAA never found that he had received funds to suit up for the football team either.

They're now asking for unspecified damages over it all.

Bush and his attorneys further elaborated on the suit at a press conference at USC's Coliseum on Wednesday afternoon.

"[This lawsuit] is about truth, getting the facts out and holding the NCAA accountable," Bush said during the meeting with reporters.