Sources close to T.O. tell TMZ the Allen Wranglers notified their star player, in writing, he had 48 hours to get out of the house they provided him -- and to hand over the keys to the 2012 Jeep Cherokee they gave him to tool around the Texas town.

But the biggest diss of all -- the $50 check the Wranglers wrote T.O. to repurchase his hefty share of the team's ownership! The financial screwing is most likely tied to the team's belief that T.O. breached his contract by missing a charity event and sitting out 2 away games.

But we're told T.O. is saying his contract allowed him to skip away games. As for the missed event ... we're told T.O. claims the team publicist told him the wrong date.