Holt and his passengers told police that they had dropped off Davis, a 19-year-old sophomore, at the Memorial Stadium parking lot about 12:45 a.m. Saturday, Bloomington Police Sgt. Jeffery Canada said.
Holt was driving away "when, for unknown reasons, Mr. Davis came into the roadway and struck the side of the vehicle near the front passenger windshield," Canada said.
Police found Davis unconscious with a head injury on the street that's just off the IU campus. Holt's Jeep Liberty had damage to its passenger side, front fender and windshield, Canada said.
Senior assistant athletic director J.D. Campbell said in a news release that Davis is in serious condition. IU Health Bloomington Hospital spokeswoman Amanda Roach said the hospital had no information on Davis.
Holt was cited for misdemeanour illegal consumption of alcohol, and for being under age 21 and operating a vehicle with a blood alcohol content above 0.02, Canada said. The school's release said Holt's BAC was 0.025.
Canada did not know whether blood tests had been done on Davis to determine whether he had been drinking, and said the investigation is continuing.
Coach Tom Crean said in the school's statement that his "thoughts are with Devin and his family."
"We will continue to support Devin and Emmitt in every possible way and I know the Hoosier family will come together to rally for these young men," Crean said.
Davis is a 6-foot-7 forward from Indianapolis. Holt is a 6-foot-7 forward from Webster, New York.
In September, junior guard Yogi Ferrell and sophomore guard Stanford Robinson entered pretrial diversion programs after being charged in April with consumption of an alcoholic beverage by a minor and possession of false identification. And junior forward Hanner Mosquera-Perea was arrested in Bloomington in February on preliminary drunk driving charges.
Indiana opens the season Nov. 14 against Mississippi Valley State.