A converted college quarterback out of Tulane, Steve Foley entered pro football with a lot to prove at defensive back. Selected by Denver in the eighth round of the 1975 draft, he spent his first professional season with the Jacksonville Express of the short-lived World Football League to learn the defensive secondary. When the WFL folded, Foley arrived in Mile High in 1976 and immediately proved his instincts and ball-tracking skills were tailored for the NFL.

Foley's fluid athleticism allowed him to excel at both cornerback and safety over his decade-plus career. He became a central pillar of the legendary "Orange Crush" secondary, earning a starting job during his 1976 rookie campaign and intercepting Hall of Famer Dan Fouts twice in his second career start. His preparation and range helped anchor a defense that captured six playoff berths and four AFC West titles during his tenure.

His longevity stood out across two distinct eras of franchise success. Foley is one of only three Broncos to start in both of the team's first two Super Bowl appearances—starting at cornerback in Super Bowl XII and returning as a safety in Super Bowl XXI for the final game of his career. Foley logged five separate seasons with at least five interceptions. He generated two defensive touchdowns in 1984 alone—including a memorable fumble return score during "The Blizzard Game" against Green Bay on Monday Night Football.

Over his career, Foley compiled 44 interceptions, 622 return yards, 877 combined tackles, four fumble recoveries, and two defensive touchdowns and is still the all-time pick leader for the squad.  Foley was inducted into the Broncos Ring of Fame in 2024.