There is a multilobulated heterogenous T1/T2 hyperintense collection superficial to the lateral malleolus and lateral compartment musculature/tendons consistent with hematoma. There is more diffuse thickening and edema of the hypodermal fat about the entire ankle.
There is a longitudinally-oriented partial tear of the peroneus brevis tendon extending from the level of the talofibular ligaments (proximally) to the calcaneo-cuboid joint (distally). The split medial and lateral tendon fibers wrap around the intact peroneus longus tendon, and there is a small amount of fluid signal within the common peroneal tendon sheath. Overlying superior peroneal retinaculum is intact.
The ankle ligaments and remaining tendons are normal. No evidence of fracture.