Official Statement from the MWC
“The protocol on any last-second shot, after the shot is made, you go to the monitor to review whether the shot was taken in time or not. We followed the protocol, we went to the monitor and we reviewed whether the shot was taken in the 0.8 seconds that was on the game clock when the ball was inbounded. We did that and we noticed that the game clock was not started upon touch. We then used a stopwatch overlay from the monitor review system to determine when he touched it and then figure out how many tenths of a second it took from the time he touched the ball until the time he released the ball and whether he was able to get that shot off in that 0.8 seconds. After reviewing that several times we determined that the shot was late. It was not taken in that 0.8-second time frame, but actually closer to 1.2 or 1.3 time frame. As a result, the basket does not count.”
themw.com

I thought they'd say he missed it by .1 second or something close to save face. But there is absolutely no way that shot took 1.2 or 1.3 seconds.