The event was originally held in private among Jim Kelly's friends to benefit his Kelly for Kids organization.
In 1992, the event was opened to the public for the first time at Pilot Field in Buffalo, NY. The event was also held at Pilot Field the following year in 1993. In 1994, the final event was held at University at Buffalo Stadium in Amherst, NY.
Each event traditionally featured an All-Star Softball Game, Home Run Derby, and finished with a $1,000,000 Celebrity Shootout. The object of the Shootout was to throw a football 30 yards into a hole two inches larger than the width of the ball, with the winner splitting $1,000,000 between themself and the charity of their choice. This was never accomplished at any StarGaze event, although Kirk Cameron and John Elway came close.