SB Nation's Tennessee blog, Rocky Top Talk, has a Breaking News post about the arrest of four Tennessee basketball players on drugs and weapons charges, thanks to the Tennessee Rivals site (subscription).
There is now a little bit of information about the car the four players were driving.
UPDATE 3:57 PM - Brent Hubbs at VolQuest ($) is reporting that the car they were driving does not belong to any of the four. So things either got much better or much worse.
A full list of the charges is also available.
UPDATE 4:29 PM - Brent Hubbs at VolQuest ($) now has a rundown of all of the charges - Tyler Smith and Brian Williams have the altered serial number charges, all four are being hit with weapon possession charges currently (maybe still some sorting out there?), Melvin Goins and Williams have drug possession charges, and Cam Tatum as the driver picks up the open alcohol container charge.
There is also a statement from the Knoxville Police Department, posted at WVLT-TV's website, which provides more details about the traffic stop and specific charges. At the end of the statement, there's word that the police will not make any further comment on the case until Monday.