Foley represented Rangers Baseball Express LLC, the investment group led by Pittsburgh attorney Chuck Greenberg and Hall of Fame pitcher and Texas Rangers President Nolan Ryan, in its acquisition of the Texas Rangers, a long and complex transaction that culminated in the sale of the Rangers through a Chapter 11 bankruptcy auction on August 4, 2010.
Initially, Foley represented Rangers Baseball Express in the competitive bidding process for the Rangers and the real estate surrounding Rangers Ballpark in Arlington in January of 2010. Foley's representation continued as the transaction was challenged by creditors of the holding company of the Texas Rangers and the club was eventually voluntarily placed into bankruptcy.
In the court-ordered bankruptcy auction, Rangers Baseball Express outbid an investment group led by Dallas Mavericks owner Mark Cuban and Houston businessman Jim Crane in a $590 million deal to become the club's sixth owner.
Major League Baseball owners unanimously approved the deal and the new ownership group on August 12, 2010.