The elimination of lag time does not mean that the timer is expected to stop the clock immdiately when the whistle sounds. What it does mean is that when the referee has definite knowledge of the time that was remaining (not the fact that there was time remaining), the clock can be reset to that specific time. The rulebook supports the fact that timers can't always stop the clock perfectly in 5-6-2, Exceptions 2 & 3.
A few rules observations:
First, 6-7-6 states that the ball becomes dead when time expires. The exceptions to this rule only come into play if the shot has been released.
Second, 5-6-2 states that a period ends when the horn sounds. 1-14 further emphasizes that the "audible timer's signal" which indicates "that time has expired for a quarter or extra period."
Given those two points, if the shooter is holding the ball in his/her hands when the horn sounds, we have a dead ball.
Third, 5-1-1 states that a goal is scored when a live ball enters the goal. Since we have a dead ball as soon as the horn sounds (whether, ideally, it should have or not), the basket cannot be scored.
I believe that 5-6-2 exception 3 actually gives the best argument for why the goal should not count in this argument. The situation is nearly the same, but the rulebook specifically states that the ball is in the air before the horn sounds. If the rules committee wanted a shot to count after the buzzer, then this situation would have been mentioned in the rulebook or casebook itself.
Do I think this is fair? No. I believe that the clock should have stopped, therefore the shot should count. However, until the rule is changed, I'm waving off the shot.
P.S. for any of the NCAA gurus - I seem to recall a bulletin a few years back which said that if you blew the whistle, then the horn went off, you would huddle, "figure out how much time was left," then put that back on the clock. Can anyone shed any light on this?
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