Is the 4 year statute of limitations by the NCAA something new? I never heard of that before and, from what I remember, Michigan basketball was punished about a decade after Chris Webber (and others) accepted money from a booster.
It's cynical, but it seems like one of those explanations the NCAA comes up with when they don't want to go after a program.
It's real, although they have some exceptions written into their enforcement. How they determine if those exceptions apply is beyond me as I think the NCAA just makes up rules, evidence, and punishments based on how they feel on a given day.