Ole Miss will appeal the decision. The appeal will be reviewed by an NCAA subcommittee, according to the school, and a response could be delivered as early as Friday but no later than one week.
No explanation for the denial was provided.
Interesting situation. Masoli fit the parameters for a transfer waiver, and Ole Miss expected it to be granted. They wouldn't have signed him and suffered through the perception hit for taking a guy with a dubious off-field track record if they didn't.
Perhaps the NCAA is going with the "spirit" of the rules rather than the actual rules themselves.