History The Stanley family, Earls of Derby, had a long history of horse-racing, and James Stanley, 7th Earl of Derby, who gained the Lordship of Mann in 1627, instituted horse-racing on the Langness Peninsula on the Isle of Man, donating a cup for what became known as the "Manx Derby".Mona Miscellany Second Series, Volume 21 pp183-187, The Manx Society (1873), The Derby originated at a celebration following the first running of the Oaks Stakes in 1779. A new race was planned, and it was decided that it should be named after either the host of the party, the 12th Earl of Derby, or one of his guests, Sir Charles Bunbury (the Bunbury Cup run at Newmarket would later be named in his honour). According to legend the decision was made by the toss of a coin, but it is probable that Bunbury, the Steward of the Jockey Club, deferred to his host. The inaugural running of the Derby was held on Thursday 4 May 1780. It was won by Diomed, a colt owned by Sir Charles Bunbury, who collected prize money of £1,065 15s. The first four runnings were contested over the last mile of the old Orbicular course <49>, this extended in line with the Oaks to the current distance of 1½ miles in 1784. Lord Derby achieved his first success in the event in 1787, with a horse called Sir Peter Teazle.
History The Stanley family, Earls of Derby, had a long history of horse-racing, and James Stanley, 7th Earl of Derby, who gained the Lordship of Mann in 1627, instituted horse-racing on the Langness Peninsula on the Isle of Man, donating a cup for what became known as the "Manx Derby".Mona Miscellany Second Series Volume 21 pp183-187, The Manx Society (1873), The Derby originated at a celebration following the first running of the Oaks Stakes in 1779. A new race was planned, and it was decided that it should be named after either the host of the party, the 12th Earl of Derby, or one of his guests, Sir Charles Bunbury (the Bunbury Cup run at Newmarket would later be named in his honour). According to legend the decision was made by the toss of a coin, but it is probable that Bunbury, the Steward of the Jockey Club, deferred to his host. The inaugural running of the Derby was held on Thursday 4 May 1780. It was won by Diomed, a colt owned by Sir Charles Bunbury, who collected prize money of £1,065 15s. The first four runnings were contested over the last mile of the old Orbicular course <49>, this extended in line with the Oaks to the current distance of 1½ miles in 1784. Lord Derby achieved his first success in the event in 1787, with a horse called Sir Peter Teazle.