Lil Wayne's Young Money Sports Nabs Another One ... Signs Teenage NBA Prospect

We might be waiting forever for "Tha Carter V" ... but Lil Wayne isn't waiting to become a major force in the athletic world ... signing another big named prospect to his Young Money Sports empire.

Sources at YMS tell us Wayne and the crew have inked Terrance Ferguson -- an 18-year-old hoops phenom (check out his highlights below) who just elected to skip college to play pro ball in Australia.

It's a good get ... Ferguson was the 10th ranked player in America last year ... and a projected lottery pick when he's eligible for the NBA Draft (remember, you have to be a year removed from high school).

He's already enjoying the perks of being signed to Wayne ... his first order of business with the crew was to take (smoking hot) Young Money artist Stephanie Acevedo to prom.

Looks like a good decision to us. Very good.