It runs across what was a 60 acre farm belonging to George Foote (1785-1854). When it became a public right of way, it was named after the family. George's grandson George William Foote (1853-1947) was a veterinary surgeon and operated his clinic from his home there. In his will he made it a condition that if any of the family wished to sell the land, it was on the condition it could not be built on - which is why it is dominated by sports playing fields today.
Today, Foote's Lane is synonymous with island sport. It is home to the Osmond Priaulx Memorial Playing Fields, Elizabeth College's Memorial Field. In 1985, the new Guernsey Grammar School was built there. It is also the location of the town's "Park and Ride" scheme. Meadow Grove, the old Foote family residence has now been converted into flats.