Rob Moseley has the photo proof:

<blockquote class="twitter-tweet" lang="en"><p>Newest member of the UO receiving corps, on the right, is Johnny Loyd, senior point guard in hoops… <a href="http://t.co/59DrZlNbtr">http://t.co/59DrZlNbtr</a></p>— Rob Moseley (@DuckFootball) <a href="https://twitter.com/DuckFootball/statuses/453243549136744448">April 7, 2014</a></blockquote>

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I know what you're thinking: wasn't he a senior last basketball season? Let's turn to Will Rubin for his best-guess rules analysis:

<blockquote class="twitter-tweet" lang="en"><p>Don't have NCAA rulebook in front of me but IIRC <a href="https://twitter.com/youngloyd24">@youngloyd24</a> can play one year of NCAA football at Oregon or elsewhere as a grad transfer.</p>— Will Rubin (@_WillRubin) <a href="https://twitter.com/_WillRubin/statuses/453244718567018496">April 7, 2014</a></blockquote>

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At the very least, he's working out with the team for spring practice. If it's kosher with the NCAA rules, maybe this will turn into something more. After all, Loyd won a Nevada state football title in high school as a WR/DB. If nothing else, it'll be a fun story as Loyd potentially tries to join Arik Armstead as a two-sport athlete for Oregon, and become the first basketball player to play WR since Jordan Kent.