The event was inaugurated on 20 February 1960 as a $3,200 allowance race over the sprinting distance of  furlongs and was won by Cyrob in a time of 1:05.80. The next season the race was scheduled later in March with an increased purse and distance of one mile and seventy yards thus becoming a natural preparatory race for the track's signature event for older horses - the Oaklawn Handicap which is held in April.
The event commenced on February 20, 1960 as a $3,200 allowance sprint over furlongs and was won by Cyrob in 1:05.80. The subsequent year, the race was rescheduled for March with an increased prize and distance of one mile and seventy yards, serving as a natural preparatory event for the track's signature race - the Oaklawn Handicap held in April.