Cheltenham players were the victims of a training ground break-in as they prepared for Monday night's FA Cup third round home tie against Everton.
Wallets, watches and phones worth thousands of pounds were stolen during the break-in, which happened as the League Two club's players trained on Sunday.
Gloucestershire police said two 17-year-olds from Cheltenham, in Gloucestershire, had been arrested in connection with the incident.
They have been bailed to return to Cheltenham police station next month. Some, but not all, of the items stolen have been recovered.
Robins striker Darryl Duffy used Twitter to vent his frustration at the theft of his phone, posting: "It has all my pics/videos of my kids in it so it means a lot to me. Cannot stand thieves.''
Police said the burglary happened between 10.45am and midday. The keys to two cars parked nearby were stolen and the cars were entered but not stolen.
A Gloucestershire force spokeswoman said: "Police are appealing for witnesses and ask anyone with information about the thefts to call.''
If Cheltenham win against Everton, they will reach the fourth round of the cup - where they would be away to either Bolton or Sunderland - for only the third time in their history.