The Kentucky Derby is a Grade I stakes race at a distance of 1+1⁄4 miles (2.0 km) and has been run at Churchill Downs racetrack since its inception in 1875.

[3] According to The Blood-Horse, NBC's broadcast "averaged a Total Audience Delivery (TAD) of 14.8 million viewers—making it the most-watched sporting event and second most watched show (behind only the Academy Awards) since Super Bowl LVII in February.

"[4] During the week of the 2023 Derby, seven horses died at Churchill Downs, including two who were euthanized prior to the signature race on Saturday.

[5] The field is limited to twenty horses who qualify based on points earned in the 2023 Road to the Kentucky Derby, a series of designated races that was first introduced in 2013.

On May 4, trainer Tim Yakteen withdrew Practical Move after the horse developed a fever, which allowed the Dale Romans-trained Cyclone Mischief to qualify from the also-eligible list.

[10] The third and final also-eligible, the Ron Moquett-trained King Russell, qualified for the Derby on the evening of May 4 after another Japanese contender, Continuar, was withdrawn by trainer Yoshito Yahagi.

[5] On May 4, trainer Saffie Joseph Jr. was suspended indefinitely by Churchill Downs after two of his horses, Parents Pride and Chasing Artie, died.

Mage became the fourth horse to win the Kentucky Derby after having only three previous starts, joining Justify, Big Brown and Regret.

[18] Mage is owned by OGMA Investments, Ramiro Restrepo, Sterling Racing and Commonwealth Thoroughbreds, a micro-shares company that sells shares to back the career of an athlete or horse.