Deion Sanders Jr. was photographed with Lil' Wayne last week wearing an SMU shirt, NFL Draft 365 reported. The photo turned up online.
Under National Collegiate Athletic Association rules, college players cannot use their status to get any kind of benefit.
Cynics, however, suggest that Sanders Sr.'s celebrity and friendship with Lil' Wayne were what got his son backstage, the report said.
The elder Sanders, nicknamed "Prime Time" and "Neon Deion," spent 16 years in the NFL and is now in the Hall of Fame. In an unusual career path, he also played for several Major League baseball teams.
His son, however, is entering his freshman year at SMU in Dallas and has not yet played for the Mustangs.
"We don't expect to find anything amiss, but it's our responsibility to check stuff like this out," Brad Sutton, sports information director for SMU, told College Football Talk.