Coach Jimbo Fisher said Saturday that Jones will still attend FSU and practice with the Seminoles.
The 6-foot-4 sophomore caught two passes for 31 yards in five games in 2013, but he had five receptions for 81 yards to lead the Gold squad in the Seminoles' spring game in April.
He was part of a large group of receivers competing for starting jobs after FSU lost senior Kenny Shaw and Kelvin Benjamin entered the NFL draft early. Jones is the tallest receiver on the roster, and he was expected to help cushion the loss of the 6-5 Benjamin.
FSU still has plenty of options with seniors Jarred Haggins and Christian Green and sophomores Jesus Wilson and Kermit Whitfield. FSU also signed a heralded trio of receivers in February - Travis Rudolph, Ermon Lane and Ja'Vonn Harrison.