Churchill Downs Events include the Kentucky Derby and other RACES. The Kentucky Derby is a Grade I stakes race for three-year-old Thoroughbred horses, held annually in Louisville, Kentucky. It is the most prestigious event of the Churchill Downs Events and is known as 'The Most Exciting Two Minutes in Sports'. Other RACES held at Churchill Downs include the Kentucky Oaks, the Stephen Foster Handicap, the Clark Handicap, and the La Troienne Stakes.