Ole Miss’ first kickoff against Jacksonville State is still roughly 24 hours away, so it’s entirely possible the situation could somehow change again. But as of this afternoon, three days after denying quarterback Jeremiah Masoli a waiver to play for Ole Miss this season, the NCAA says Masoli can play, after all:

University of Mississippi football student-athlete Jeremiah Masoli may compete immediately, according to a decision today by the NCAA Division I Subcommittee for Legislative Relief. The subcommittee’s decision overturns the staff decision to grant the graduate student transfer waiver with the condition that Masoli could not compete until the 2011-12 academic year.

According to NCAA rules, created by member schools, football graduate student-athletes must receive a waiver in order to compete if they enroll at a university other than where they received their undergraduate degree.

Yeah, sorry about all that, man. So does this mean they’re not doing the t-shirts now?

Masoli, of course, completed his undergraduate degree at Oregon in July, four months after being suspended for the season for pleading guilty to second-degree burglary of a frat house, and just weeks after being booted for good following another arrest on a traffic stop.

Dedicated people-helper that he is, Ole Miss coach Houston Nutt decided to overturn his own decision not to pursue Masoli and instead assist in his efforts to enroll in Ole Miss’ graduate Parks and Recreation program –