More to come, but here’s the statement from the school and AD Dan Guerrero:

The NCAA has finally determined that a violation of the NCAA amateurism rules has occurred involving UCLA freshman guard Shabazz Muhammad and his family. As a result, he is ineligible for competition at this time. We are extremely disappointed that the NCAA has made this determination.

The University and our compliance staff have fully cooperated with the NCAA throughout this entire period, and we believe the decision is incorrect and unjust to Shabazz. UCLA will expeditiously pursue its options to challenge this determination. When a final resolution has been reached by the NCAA, we will swiftly communicate the news to the entire Bruin family.