Complex sentence: The race was given its present name in 2007, having previously been known as the Predominate Stakes, named after the horse Predominate, winner of the Goodwood Cup in 1961.
Split into simpler sentences: The race was given its present name in 2007, having previously been known as the Predominate Stakes. This was in honour of the racehorse Predominate, winner of the Goodwood Cup in 1961.