The calcaneofibular ligament is a narrow, rounded cord, running from the tip of the lateral malleolus of the fibula downward and slightly backward to a tubercle on the lateral surface of the calcaneus. It is part of the lateral collateral ligament, which opposes the hyperinversion of the subtalar joint, as in a common type of ankle sprain. It is covered by the tendons of the fibularis longus and brevis muscles..