The University of Mississippi released an update on the NCAA investigation into the football program on Wednesday, and there wasn't much to be optimistic about for Rebels fans.

"Yeah, it's not a good day," radio host Bo Bounds told Tide 102.9.

The morning show host on 105.9 the Zone in Jackson, Mississippi, joined The Game right after the self-imposed bowl band was announced to help us make sense of it all and discuss what it means to the Ole Miss program moving forward.

With the amended Notice of Allegations, the school now faces double-digit Level 1 violations, which is the NCAA's most severe. Ole Miss already offered up self-imposed penalties for charges that also include lack of institutional control, but that doesn't mean the case is over.

"Just because you offer up X, Y, and Z doesn't mean the Committee on Infractions will be lenient when they hand down the sanctions," Bounds said. "Who knows how that committee will digest and come up with sanctions."

"Three years, 11 schollies, and a bowl ban is what they have when they walk in the door to meet with the Committee on Infractions."

This investigation, which began in 2012 with a women's basketball violation, has already hurt Hugh Freeze's football program. After winning 27 games between 2013-15, the Rebels finished last in the SEC West last year with a 5-7 record.

"I think the momentum deal, that's over. The top 5 and top 10 recruiting classes, that ship has sailed. I really think you have to find out who you are and what you are. At the end of the day, Ole Miss is much more of a No. 20 recruiter than a No. 3 recruiter."

You can hear the entire conversation between Bounds and host Ryan Fowler in the video above.