|Breeder||Robert E. Lehmann|
|Owner||Golden Chance Farm|
|Trainer||W. E. "Smiley" Adams|
Kindergarten Stakes (1974)
Preakness Stakes (1975)
|Leading broodmare sire in Britain & Ireland (1991)|
|Fair Grounds Racing Hall of Fame (1992)|
1974: Two-year-old season
Conditioned for racing by trainer Smiley Adams, at age two Master Derby made twelve starts, finishing either first or second in all of them. His best stakes race results were wins in the Grade III Kindergarten Stakes sprint race  and a division of the Grade III Dragoon Stakes. He also earned a second-place finish in the important 1974 Breeders' Futurity Stakes and the Kentucky Jockey Club Stakes.
1975: Three-year-old season
Racing as a three-year-old, Master Derby began his season with two straight losses in six-furlong sprints but then won the much longer 1 1/16 miles Louisiana Derby Trial Stakes and the 1⅛ miles Louisiana Derby. Aimed for the Kentucky Derby, from his base in Louisiana his handlers shipped him to Keeneland Race Course in Kentucky, where jockey Darrel McHargue rode him to victory in the Lexington Stakes and the Blue Grass Stakes.
With McHargue as his rider in the 1975 U.S. Triple Crown races, Master Derby ran fourth in the Kentucky Derby to the heavily favored winner Foolish Pleasure, then won the Preakness Stakes before finishing third in the Belmont Stakes to winner Avatar.
1976: Four-year-old season
Retired to stud duty, Master Derby met with some success as a sire. The most notable of his progeny in racing was the Grade I winner Uptown Swell, who earned just under $1 million for owner Virginia Kraft Payson. However, his daughter Doff The Derby produced Generous, whose 1991 Group One victories in England and Ireland included the Epsom and Irish Derbys and whose earnings helped make Master Derby the 1991 Leading broodmare sire in Great Britain & Ireland.
|Crafty Admiral||Fighting Fox|
- Prescott Courier - May 18, 1975
- Master Derby's pedigree
- Louisville, Kentucky Courier - Journal - June 21, 2003
- New York Times - September 1, 1974
- New York Times - July 14, 1974
- New York Times - Mar 23, 1975
- Washington, Pennsylvania Observer-Reporter - April 25, 1975
- Bowling Green, Kentucky Daily News - March 12, 1976
- Chicago Tribune - June 22, 1976
- Master Derby's progeny
- Fair Grounds Hall of Fame