Why didn't the AZ player leave?

[Nevadaref]

At the very end of the Arizona/Michigan game an Arizona player grabbed a defensive rebound and was fouled with 0.1 seconds remaining in the extra (overtime)period. The score at the time was Arizona 61, Michigan 60. Before this player went to the other end to attempt two free throws there was a short delay. It turned out that this player had blood on his shirt and changed it. The TV camera even showed the team trainer wearing gloves putting the jersey into a plastic bag and taking it away.
Now I have looked at NCAA rule 3-15 and I must wonder why the officials did not make AZ take a time-out at this point or replace the player. No time-out was taken before the first FT attempt, which was unsuccessful. However, one was taken by AZ prior to the second attempt during which Lute Olson instructed the player to miss on purpose so that Michigan could not possibly get an attempt at a tap at the opposite end.