Complex sentence: August Belmont, Jr. himself won the Cup when Hastings won the race, the Belmont family keeping the trophy until 1926 when it was presented to Belmont Park and has been ceremonially distributed every year to the winner of the Belmont Stakes.
Split into simpler sentences: August Belmont, Jr. won the Cup when Hastings won the race. The Belmont family kept the trophy until 1926 when it was presented to Belmont Park and has been ceremonially distributed every year to the winner of the Belmont Stakes.