The first Walter Hayes Trophy was held at Silverstone between 26 and 28 August 2001 after being created by James Beckett.
It is named after Walter Hayes who was a Ford Motor Company public relations executive.
As a public relations executive Hayes was very much involved with racing and was instrumental in the creation of the famous Cosworth DFV engine.
The events held between 2002 and 2006 were sanctioned by the BRDC, with this role being taken by the HSCC (Historic Sports Car Club) from 2007.
Four Team USA Scholarship racers have won the race, Conor Daly in 2008, Connor De Phillippi in 2009, Tristan Nunez in 2012 and Max Esterson in 2021.