It was given the same name as the British Champagne Stakes which has been run annually since 1823 at the Doncaster Racecourse in South Yorkshire, England.
There was no Champagne Stakes run from 1910 through 1913, due to a legislated ban by the State of New York on parimutuel wagering, and no race was held in 1956. Notable past winners who have gone on to success as three-year-olds or older include U.S.
Others such as Ben Brush, Colin, Sarazen, Alsab, Grey Lag, Buckpasser, Riva Ridge, Foolish Pleasure, Alydar, Spectacular Bid, and Easy Goer, all of whom are now in the National Museum of Racing and Hall of Fame.
Similarly, the 1950 winner was Uncle Miltie, a horse given the nickname of the famous comedian and New York City native, Milton Berle.
The inaugural running of the Champagne Stakes took place in 1867 at Jerome Park Racetrack prior where it remained through 1889.