It was created again for the Stanley family in 1485. Lord Derby's subsidiary titles are Baron Stanley of Bickerstaffe in the County Palatine of Lancaster (created 1832), and Baron Stanley of Preston, in the County Palatine of Lancaster (1886). The 1st to 5th Earls also held an earlier Barony of Stanley, created for the 1st Earl's father in 1456 and currently abeyant; the 2nd to 5th Earls held the Barony of Strange created in 1299, currently held by the Viscounts St Davids; and the 7th to 9th Earls held another Barony of Strange, created in error in 1628 and currently held independently of other peerages.
The courtesy title of the heir apparent is Lord Stanley.
Several successive generations of the Stanley Earls, along with other members of the family, have been prominent members of the Conservative Party, and at least one historian has suggested that this family rivals the Cecils (Marquesses of Salisbury) as the single most important family in the party's history. They were at times one of the richest landowning families in England.
The Stanley Cup, the championship trophy of the National Hockey League, was presented to the Dominion of Canada in 1892 by Frederick Stanley, 16th Earl of Derby during his tenure as Governor General of Canada.