When Franks and Reynolds return to game action, they'll give quarterback Landry Jones more experienced targets to go with junior Kenny Stills, who will still be the only active receiver with a career NCAA Division I reception when OU opens its season Sept. 1 at UTEP.
Stills has started 25 games in his two years on campus, and had 786 yards and five touchdowns last season.
True freshman Trey Metoyer received rave reviews during the spring, and then showed his potential with a six-catch, 72-yard performance in the spring game.
Also joining the Sooners are freshmen Durron Neal, Sterling Shepard and Derrick Woods, as well Lacoltan Bester, a transfer from East Mississippi Community College.
Reynolds' reinstatement also comes just days after another junior-college transfer, Courtney Gardner, confirmed that he wasn't able to become academically qualified in time for the fall. Gardner, 6-foot-3 and 215 pounds with 4.4 speed, had 1,099 receiving yards and 13 touchdowns last season for at Sierra (Calif.) Community College. He'll spend one more semester there and join the Sooners in January.
Both Franks and Reynolds have been suspended before. Reynolds was suspended after tweeting insensitive comments about a gunman at the University of Texas during OU/Texas week, and redshirted that season. He was also suspended for one game last season for a violation of team rules.
Franks was suspended for two games last season for violating unspecified team rules.
Jackson started two games and played in 11 as a true freshman, finishing with 12 receptions for 165 yards. But he didn't participate in April's spring game.