The competition attracts entrants from across the world as teams compete from Under-10 to Under-17 level and in a Ladies competition.
Last year, a record 164 outfits lined up and organisers hope to smash that number this time out as they bid to entice up to 180 teams to take to the field after being named the UK City of Culture for 2013.
Celtic, Hearts, St Johnstone, Hibernian, Aberdeen, Motherwell and Kilmarnock have all turned out in the competition in recent years and Rangers have now enquired about the possibility of sending an Under-15 side across the water in July.
Tournament organiser Michael Hutton said: "Rangers have been in touch about bringing a team to this year's event.
"They are interested in competing at U15 level. I know that Rangers may not be competing in the SPL at the moment, but they remain one of the biggest clubs in Britain and I know their N. Ireland fans will be delighted to see the team compete for honours in this year's event.
"We are delighted that they have chosen to showcase their youth talent in the Foyle Cup tournament.
"The interest in our event and our city comes from all over the world. At the moment it would appear we will have at least four teams from as far away as Canada and America to compete and possibly four teams from South Africa."