Being #1 in the class seems like a ridiculously high standard IMO. It sounds like he is still a top student. Sports can often actually teach better life lessons than academics. 

Just my .02 cents. I respect that it is your family and decision.  

Being valedictorian is 1000x more important than playing basketball and football. He can do the others but only if he keeps his grades up. He let them slip because of the travel team (it is an AAU team that plays AFTER the high school team ends its season).

It is likely going to be impossible for him to regain the top spot again. But I MUST set the precedent that his academics are vastly more important than his athletic endeavors. I am still allowing him to play, just not during exam times. And not the travel ball because the time commitment is too great.

I have been there. in 1982 I ran the fastest time for the 1 mile in Florida at 4:05. I was being recruited as a runner and had an appointment to the USAFA. I developed stage IV lymphoma shortly after high school and have been battling health issues ever since. It was my academics that got my through life and brought me success. Physical prowess is fleeting and fades as youth does. But nobody can take your education from you. It must always come first.