 The Stanley family, Earls of Derby, had a long history of horse-racing, and James Stanley, 7th Earl of Derby, who gained the Lordship of Mann in 1627, instituted horse-racing on the Langness Peninsula on the Isle of Man, donating a cup for what became known as the "Manx Derby".The Derby originated at a celebration following the first running of the Oaks Stakes in 1779.A new race was planned, and it was decided that it should be named after either the host of the party, the 12th Earl of Derby, or one of his guests, Sir Charles Bunbury (the Bunbury Cup run at Newmarket would later be named in his honour).