UPDATED: Former Razorbacks Quarterback Matt Jones Arrested for Cocaine Possession

Former Arkansas quarterback Matt Jones was arrested by Fayetteville police officers early Thursday morning for felony possession of cocaine, according to a police report.

Jones, 25, was booked at 4:11 a.m. The Jacksonville Jaguars wide receiver was released from the Washington County Detention Center on $2,500 cash bond.

Jones' arraignment is set for Aug. 11. He will be formally charged prior to that hearing, which is scheduled after Jaguars training camp closes on Aug. 6.

If convicted Jones faces a maximum sentence of up to 10 years in prison and a fine. First-time offenders are generaly granted probation and other sentencing options.

Jones has no prior criminal history in Arkansas.

(See a PDF copy of the Fayetteville Police Department's report on Jones by clicking here.)

Former Arkansas tight end Jared Hicks was also arrested with Jones early Thursday morning. He was arrested for what police believe was possession of drug paraphernalia, a misdemeanor. Hicks is scheduled for an Aug. 8 hearing in Fayetteville District Court. His bond was set at $500.

Hicks, 25, and Jones were arrested with Benjamin Cook, 26, who was charged with possession of drug paraphernalia. All three were arrested at 12:41 a.m. in the parking lot behind Ryleigh's Sports & More, 313 W. Dickson.

Jaguars team officials are aware of the arrest and are still gathering information, spokesman Ryan Robinson said. Jaguars owner Wayne Weaver is also aware of the situation.

"We're trying to investigate that now," Weaver said of Jones' arrest. "We don't have all the facts. We will comment once we have all the facts."

Jones and the Jaguars are scheduled to begin training camp July 25. Jones attended all of the team's offseason workouts, Robinson said.