It is run at Goodwood over a distance of 6 furlongs (1,207 metres), and it is scheduled to take place each year in late July or early August.
For several years in the 1830s the senior steward at Goodwood presented an annual cup to the winner of any race of his choosing.
A perpetual race for the Stewards' Cup over a sprint distance of 6 furlongs was conceived by Lord George Bentinck in late 1839, and the inaugural running took place the following summer.
The race was formerly held on the opening day of the five-day Glorious Goodwood meeting.
In 2014 Goodwood announced that 32Red would take over the sponsorship and the race would lose its historic title, being run as the 32Red Cup.