In 2007 the race conditions were set weights and penalties after previously being a handicap race throughout its 121-year history and was renamed The Goodwood from Goodwood Handicap. The event is the richest sprint race in autumn in Adelaide with $502,250 in prize money.
In 2007, the race conditions were changed from a handicap format to include weights and penalties after being used for its entire history of 121 years. The event was previously known as Goodwood Handicap but is now called The Goodwood. It remains the most valuable autumn sprint race in Adelaide with $502,250 in prize money.