The newspaper said Blacksburg police were called to a residence just outside the downtown area before 10 p.m. Wednesday because of a physical altercation.
A Thursday morning police statement said the investigation into an alleged home invasion began shortly after and resulted in the arrests of Journell, 20, Matthew D. Dunton, 23, and Matthew I. Brady, 21.
Police said each was charged with breaking and entering, a class 2 felony because of the alleged use of an unspecified dangerous weapon.
All three men were being held without bond at the Montgomery County Jail.
"Virginia Tech redshirt sophomore placekicker Cody Journell is immediately suspended indefinitely from the football team" under university policy, Athletics Director Jim Weaver said.
Journell is an All-ACC 2011 honorable mention winner after making 14 of 17 field goals.
The former Giles High kicker from Ripplemead, Va., was the first true place-kicker to be signed to a scholarship with Virginia Tech since 1996, the Times said.