Washington: Giacomo staged a stirring charge down the home stretch to become the second-longest priced winner in Kentucky Derby history on Saturday, claiming the 131st Run for the Roses by half a length.

Without a victory in three starts this season, the 50-1 shot named after the son of British musician Sting was given a perfect ride by Mike Smith to capture the $1.6 million winner's purse for the first jewel of the Triple Crown.

Stalking early pacesetter Spanish Chestnut before moving into contention on the final turn, Giacomo out-sprinted Closing Argument and Afleet Alex in the closing stages for a famous victory.

The win marked one of the biggest upsets in Derby history, a $2 win ticket on the three-year-old grey colt returning $102.60. Only Donerail's shock win in 1913 paid more at $184.90.

Bellamy Road, the 5-2 morning-line favourite owned by New York Yankees boss George Steinbrenner and trained by Nick Zito, never mounted a serious challenge and finished a disappointing seventh.

?I thought I was in good shape but obviously it wasn't our day, that's what makes racing great,? Zito said.

?I knew it would be a hot pace and I was waiting for my closers to close and it never happen. ?All you can do is salute the winner.?

It was a bitterly frustrating afternoon for both Steinbrenner and Zito, who had five mounts in the 20-horse field but could not grab a third Kentucky Derby win. With the Yankees, the prize asset in his sporting empire, languishing near the bottom of the American League East standings, Steinbrenner had hoped for more from Bellamy Road but left Churchill Downs winless in six attempts. (REUTERS)