[citation needed] An inaugural series of meetings was held, and on 6 August 1958, Australian Herb Elliott shattered the world record for the mile run with a time of 3 minutes 54.5 seconds.

[citation needed] Billy Morton, the businessman and administrator who started the track development for running, decided to arrange a cycling event in 1959, inspired by the progress of Ireland's first continental racing star, and only professional cyclist, Shay Elliott.

He persuaded Lord Moyne, then Chairman of Guinness plc to pay for a banked cycle racing track, in tarmac, in celebration of the company's 200th anniversary.

Morton, with help from the CRE, also arranged for a small number of European cycling professionals to come for the headline race, with an "undercard" of Irish amateur riders.

[2] The professional race featured was headlined by Fausto Coppi, as well as Elliott, Brian Robinson, André Darrigade, Albert Bouvet and Roger Hassenforder.

[3] In the early 1990s it was renamed after Billy Morton, the administrator who had initiated the original track and who brought famous athletes to compete in the stadium.

[citation needed] The stadium consists of a small covered stand with 800 seats and three sides of open terracing, bringing the total capacity up to 4,000.