A 27-year-old man from Banbury was arrested last Tuesday on suspicion of murder in relation to the shooting of Jordon Banton, 23, in Rugby on July 25.
He has been released on police bail until September 10.
Paul Michael Evan Dolan Clarke, 34, of Bluebell Close, Rugby, and Darell Akins, 28, of Follager Road, Rugby, have been remanded in custody after appearing via videolink at Coventry Crown Court on July 31.
They have been charged with murder and firearms offences connected to the death of Jordon and will attend a plea and case management hearing on October 9. The court is not yet known.