The race is funded by Goffs, a leading Irish bloodstock auctioneer and was reserved for horses catalogued as yearlings in the previous year's Goffs Million Sale. The first running was in 2006, when the Goffs Million was a single race contested over 7 furlongs (1,408 metres). The event was split into two separate divisions in 2007. The divisions initially comprised the Goffs Fillies Million for
fillies, and the Goffs (C & G) Million for
colts and
geldings. A new format was introduced in 2009, when the divisions were the Goffs Million Sprint (over 6 furlongs), and the Goffs Million Mile (over 8 furlongs). The races were discontinued in 2010. The race was reintroduced in 2022 and was restricted to horses in the catalogue at the 2021 Goffs Orby Sale. ==Records==