Sallie spent the last two years with the Tigers, averaging 10.5 points and 4.0 rebounds in 22 starts last season. He holds Memphis' school record for career 3-point accuracy, making nearly 44 percent in his two seasons.
Louisville coach Rick Pitino says Sallie's versatility and experience will help him fit in quickly with the Cardinals, who have lost their top four scorers.
Sallie must complete his bachelor's degree at Memphis this summer and Louisville must request a waiver from the NCAA for Sallie to play this fall. Pitino said he expects to have Sallie available if his academics are in order.