The England midfielder has rejected previous offers to extend his deal, prompting speculation that he could leave the south coast club as early as the January transfer window.
Chelsea made a £64million bid for Scott during the summer, which Bournemouth rejected, and Liverpool have also been linked with the 23-year-old. The Cherries have since softened their position and would consider a sale in January if they believe Premier League survival is secure and a fee of at least £100million is available.
Foley, speaking to talkSPORT, said Bournemouth still believe the club offers Scott the right environment to develop and remain for the long term.
“At this point, we're convinced we're the right place for Alex to be and to stay, and we'll keep on addressing the contract issues with Alex as we move through this year.
“We'd love to have Alex stay here and sign a new contract and be part of this team for the long haul.
“We haven't given up, but sometimes players get stars in their eyes, and they think that Chelsea or Manchester City is the right place to go.”
Foley argued that Bournemouth’s longer-term ambition is to make the club a place where leading players can build their careers, rather than viewing it only as a stepping stone to the Premier League’s wealthiest sides.
“We believe, if we keep on buying infrastructure and a common thread of leadership across the team then we will start keeping more and more players.
“People will be surprised about that, and they'll be able to earn substantial wages here.”
The owner also acknowledged that younger players may arrive at Bournemouth expecting to use regular first-team football as a route to a bigger club. He said the club needed to provide the facilities and support to make staying an attractive option.
“We have to respect the fact that a lot of our players are younger, and they've come to Bournemouth with the expectation that they'll get time to play and perhaps move on to a bigger team.
“We recognise that my job is to make players feel comfortable and provide them with the infrastructure they need to understand that.”
Scott has become an important figure at Bournemouth since joining from Bristol City in 2023, and his performances have drawn interest from several leading Premier League clubs. The midfielder is currently injured, adding another complication to the contract situation and any potential January move.
Bournemouth’s stance is now more conditional than it was during the summer, when the club rejected approaches for Scott. A fee around £100million, together with confidence that relegation is no longer a serious threat, would be central to any decision to sell.
For now, Foley’s comments underline that Bournemouth have not abandoned efforts to retain Scott. Whether the club can convince him to commit to a new deal remains unresolved, with Chelsea and Liverpool among the clubs expected to monitor his situation.