ESPN: NCAA statement on Masoli's ineligibility
Turns out the NCAA denied former Oregon quarterback Jeremiah Masoli immediate eligibility at Ole Miss because his request for a waiver didn't match the "intent" of the transfer exception.
Here's a statement from the NCAA. The NCAA staff has granted a graduate student transfer waiver for University of Mississippi football student-athlete Jeremiah Masoli, but he must wait until the 2011-12 academic year to compete. Mr. Masoli can continue to pursue his academic career, is eligible to receive athletics aid, and may practice with the team
In its decision, the staff noted the student-athlete was unable to participate at the University ...