Updatedx5: TMZ is reporting that Lawrence Taylor's bail has been set at $75,000 in a New York courtroom.

Taylor was arraigned on charges of 3rd degree rape (sex with a minor) and patronising a prostitute in the third degree. The prosecution initially asked for bail to be set at $100,000, which LT's lawyer said was "ludicrous."

Before the arraignment, police held a press conference at which the following information was disclosed:

- Taylor was said to be "very cooperative" with police.

- There was alcohol inside Taylor's hotel room, but how much or what type was not disclosed. Taylor did not seem drunk when police arrived.

- Police are saying LT did not attack the accuser, and her black eye was from before she came to his hotel room.

- 3rd degree rape is a class E felony, and if convicted Taylor could spend up to 4 years in jail. Patronising a prostitute in the third degree carries a maximum sentence of one year.

- It was confirmed that Taylor is accused of paying $300 for sex.

- Taylor is not being charged with forcible rape, and officials "do not know" if the victim resisted having sex with him.

- Police say that LT did not answer the door when they arrived, so they let themselves in. They did not need a search warrant to do so.

Updatedx4: According to TMZ, law enforcement sources have stated that Taylor paid his accuser $300 for sex.

Updatex3: According to TMZ, Taylor is proclaiming his innocence in the alleged rape of a 16 year old girl. His attorney says Taylor is adamant that he is innocent, and is extremely upset about the situation.

Taylor's wife tells TMZ that she is standing by her man, as she believes that the whole thing is a set up. Lynette Taylor thinks that this is a set up because the charges come just days after A&E aired a documentary featuring Taylor titled "Fame and Recovery." She says the documentary "made him out to be a monster."

UPDATEx2: According to TMZ, the accuser is 16 years old, a runaway from the Bronx, and was under the control of a pimp. The pimp has been arrested. Also, police did find a condom in the hotel room where Taylor allegedly raped the girl.

UPDATE: ESPN's First Take just reported that Taylor has been charged with 3rd degree rape of a 15 year old girl.

Original: According to CBS Chicago, former New York Giants great and WrestleMania 11 headliner Lawrence Taylor was arrested for rape in New York City. The Town of Ramapo police took Lawrence into custody after being accused of raping someone in the Holidome Hotel in Montebello, New York. Once police finish their investigation, official charges will be filed. A news conference is expected later today, and it is expected that police will reveal more details.

Taylor worked with the then WWF back in 1995. He shot a series of angles, which culminated in the WrestleMania 11 match with Bam Bam Bigelow. That match served as the night's main event.

Got a news tip or correction? Send it to us by clicking here.