 It is a handicap race, and is scheduled to take place each year in late January.Prior to 2014 it was run as the Murphy Group Chase and from 2014 to 2016 it was sponsored by freebets.com It is currently sponsored by the Crest Nicholson housebuilding companyy.The race was first run in 1993 and was awarded Listed status in 2002, when it was known as the Ladbroke Trophy Chase.