06/29/2010 03:28 pm ET Updated May 25, 2011

UCLA Football Players DISMISSED For Alleged Theft

Three incoming UCLA football players arrested earlier this week for stealing a purse have been let go from the team, the school says.

The players -- Joshua Shirley, Shaquille Richardson and Paul Richardson -- were arrested June 23 for stealing a bag with $1,200 worth of materials in it.

In a statement, UCLA football coach Rick Neuheisel said that the three players knew they "made a terrible mistake" and were "paying a steep price for their lapse in judgment."

There remains a possibility that Neuheisel could reinstate the players at a later date.