A 21-year-old man was arrested in London while a 22-year-old was apprehended at a property in Birmingham city centre just after midnight, West Midlands Police confirmed on Wednesday morning.
Cody Fisher, 23, was stabbed in the Crane venue in Digbeth shortly before 11.45pm on Boxing Day while on a night out with friends.
Despite efforts to save him he was pronounced dead around half-an-hour after officers were called to the scene, and a murder investigation is now underway.
Police said the arrested men “will be questioned on suspicion of the murder of Cody”.
Mr Fisher’s heartbroken girlfriend has shared a moving tribute to him, saying “I love you forever”.
“You didn’t deserve any of this,” wrote Mr Fisher’s girlfriend Jess Chatwin in a moving post on Twitter.
“I’m so sorry this has happened to you my baby please come home. I love you forever Cody Fisher.”
A statement shared by Mr Fisher’s family following the tragedy said: “They have broken our hearts; I have lost my best friend. My family and I are asking for privacy and respectfulness at this heart-breaking time.”
Meanwhile the manager of Stratford FC, Jed McCrory, broke down in tears as he paid tribute to the young player on Tuesday.
“We’re a family club,” he said. “Everybody knows everybody. It’s going to be a hard one to take this, for everybody. He was so well-liked.”
He said he was “just speechless” by Mr Fisher’s death, adding: “Anything we can do to help, we’ll do. I’m just so sorry for [his family].”
The police are asking the public to report any information or submit any videos and pictures they may have of the night via an online portal on the force’s Twitter feed.
In a statement released on Wednesday morning DCI Ian Ingram, from West Midlands Police homicide team, said: “We’re making good progress in our investigation and are building a better picture of what happened.
“We’ve been really pleased with the response from the public and have already had a number of witness accounts and images sent through, which will help with our investigation.
“It’s vital that we hear from everybody who saw any part of what happened that night – no matter how insignificant they think it might be.
“Cody’s family and friends are devastated by what happened, and we’ll continue to work to bring them answers.
“We’ve set up a dedicated web page here where you can send information, photos and videos that could help our investigation.”
Friends and sporting colleagues of the semi-professional footballer have also been posting tributes on social media, including his club Bromsgrove Sporting FC.
In a statement published on Facebook Bromsgrove said: “All of us at Bromsgrove Sporting Football Club are deeply saddened to learn of the passing of Cody Fisher.
“Cody was a friend to many at the club and we send our deepest condolences to his family and loved ones.”