This race was run as an 1100m handicap from 2005 to 2008 until it became a Listed race in 2009. In 2013 it was upgraded to its current Group 3 status. It has had many names like The Heaven Sprint (2005), Crown Trophy (2006 -2007), Crown Promenade Trophy (2008), Crown Promenade Stakes (2009-2010), G.H. Mumm Stakes (2011-2015), Sensis Stakes (2016), Skip Sprint (2017) and Furphy Sprint (2018 onwards).
Originally held on VRC Oaks Day on the Thursday two days after the Melbourne Cup, it was moved to Victoria Derby day in 2016. It is part of a nine event meeting of all Group races. The four Group 1 races are the Victoria Derby, Kennedy Cantala Stakes, Coolmore Stud Stakes and the Empire Rose Stakes. The two Group 2 races are the Wakeeful Stakes and the Linlithgow Stakes and the two other Group 3 races are the Carbine Club Stakes and Lexus Hotham Handicap.
Runners often use the Alinghi Stakes as a lead-up and also the Northwood Plume Stakes and the Schillaci Stakes.
Begonia Belle was a chestnut filly foaled in 1964 who went on to win the 1969 Newmarket Handicap.