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NFL's Jermiah Braswell

NFL rookie Jermiah Braswell's time with the Arizona Cardinals is over before it even began -- the wide receiver has been cut after allegedly drunkenly driving his Camaro into Lake Erie.

The 23-year-old ex-Youngstown State star -- who signed as an undrafted free agent in April -- was arrested for operating a vehicle while intoxicated in Put-in-Bay, OH on Saturday ... after cops found him in the driver's seat trying to move the vehicle out of the water.

According to witnesses, the Toledo native was traveling at "a very high rate of speed" on the road before the crash .