This race was named after the late New York racing announcer Fred Caposella in 1993. It was originally called The Swift Stakes. Restricted to three-year-olds, the Capossela is a useful race for Kentucky Derby hopefuls as they begin their three-year-old campaigns.
The Swift was inaugurated at Sheepshead Bay in 1885 and was run there through 1910; at Belmont Park from 1927 through 1955; at Jamaica from 1956 through 1959. Not run from 1911 through 1926 nor in 1945. Distance of seven furlongs from 1885 through 1955. Run in two divisions in 1952 and 1970. In 1986, Vinnie the Viper finished first, but was disqualified and placed fifth.