The trophy is awarded to the winner of the annual Daytona 500, known as "The Great American Race",[5] which acts as the season-opening event for the NASCAR Cup Series (formerly known as the Monster Energy Cup Series, Sprint Cup Series, Nextel Cup Series, Winston Cup Series, and Winston Grand National Series), and is also considered the most prestigious and important event on the NASCAR schedule.[2] The trophy is considered to be the most coveted award with which a NASCAR driver can be presented.[2][6]
Winners of the Daytona 500 through 1997 received the Harley Earl Award, a wooden trophy approximately three feet (0.91 m) tall, adorned with silver figurines.[9] Starting in 1998, to celebrate the 40th running, individual winners of the Daytona 500 have been presented with a miniature replica of the Harley J. Earl Trophy,[9] which was recreated by John Lajba, a sculptor from Omaha, Nebraska.[6] Previously commissioned to craft a sculpture of Bill France and his wife, Ann France, for display in front of NASCAR corporate headquarters in Daytona Beach, Florida,[6] Lajba's work on each replica trophy requires six weeks of 12-hour days to create the Firebird I automobile, with all the work done by hand, at Herman Engraving,[6] before it gets plated in silver by Koley’s Inc., also located in Omaha.[6] The first replica trophy, won in 1998 by Dale Earnhardt was mounted on a marble base, but subsequent trophies have since been mounted to an acrylic base, making them lighter.[6] For the 2008 Daytona 500, the 50th anniversary of the first race, the replica of the trophy, presented to winner Ryan Newman, was plated in gold rather than silver.[5]
The Harley J. Earl Trophy is not the only trophy awarded at the conclusion of the annual Daytona 500. The crew chief of the winning team receives the Cannonball Baker Trophy, named after the first commissioner of NASCAR; the winning team owner is awarded the Governor's Cup.[10]