The rule is there, he's pursuing a graduate degree, and I'm fairly certain that a majority of these transfers aren't "for academic" purposes as the NCAA put it. Most of them are likely related to playing time or disciplinary issues with their old school. Masoli just happens to be unlucky enough to be a high profile case.

As far as the CFL stuff....totally unsubstantiated. It's just a blogger speculating, and I'll believe it when I see it. Masoli would be better off sticking with Ole Miss for the year, playing his last year there, and if he turns heads and stays out of trouble in the interim he's probably still a fairly high draft pick.