T. L. Weaver, a lumber entrepreneur expanded his timberland holdings and lumber operations to St. Petersburg, Florida during the land boom of the 1920s. He sold one pine tract to a group of local businessmen who constructed a greyhound track. Unable to pay their outstanding balance, they gave the track to Weaver's lumber company. It has been with the Weaver family ever since. In the first years of greyhound racing, the season was short, so Weaver booked other entertainment events including stock car races and even an exhibition football game with legendary Jim Thorpe. Since then star golf, tennis and baseball athletes Lou Gehrig, Babe Ruth and Walter Hagan have continued to find entertainment watching star greyhound athletes like Racing Ramp, Lucky Pilot and Keefer.

Derby Lane's concrete and steel grandstand replaced the original wooden structure in 1949, and 16 years later fine dining was introduced in a six-story enclosed clubhouse and in 1977 a veranda clubhouse gave way to an additional enclosed grandstand.  The greyhound kennel compound was built in 1990 and is surrounded by native plants and ponds. These wetlands are a preserve for many varieties of birds. It also houses our greyhound adoption kennels.

Technological changes throughout the years have insured accuracy in every aspect of racing from odds computations to race draws. Derby Lane's growth today marks new heights of simulcasting its greyhound races nationally and internationally.