After failing to show any worthwhile form as a two-year-old he made exceptional improvement as a three-year-old to win the 1928 Epsom Derby at odds of 33/1 in record time.

[2] Cunliffe-Owen paid 2,100 gns[3] at the Newmarket sales in July 1924 for the mare Felkington who was then in foal (pregnant) to the Derby winner Spion Kop.

[5] Bell's involvement and Carbine's southern hemisphere origins led the Sydney Sun to describe Felstead's Epsom victory as "Australia's Derby".

[9] On his three-year-old debut, Felstead provided evidence that he had made significant improvement over the winter by easily winning a maiden race at Newbury.

[3] On unusually hard ground at Epsom, Felstead started a 33/1 outsider in front of a huge and enthusiastic crowd which included the King and Queen.

Felstead was ridden in the race by Ossie Bell's stable jockey Harry Wragg, a rider whose expertise in riding horses from off the pace led to his being nicknamed "The Head Waiter".

[11] Sunny Trace weakened early in the straight and Flamingo took a clear lead as Wragg moved Felstead up into a challenging position.

In their book A Century of Champions, John Randall and Tony Morris rated Felstead a "poor" Derby winner, although they placed him slightly ahead of his sire.