The trophy itself is in the shape of a basketball net with a single rod extending from the base of the trophy to the ball.
The Larry O'Brien trophy was created in 1978 by the National Basketball Association (NBA). It's name was changed in 1984 in honor of Larry O' Brien, a former NBA Commissioner. Who was the commissioner from 1975-1984 and was later inducted into the basketball hall of fame for his work.
From 1964-1984 the trophy was known as the Walter A. Brown trophy, and before that it was simply called the NBA Finals trophy.This is the only trophy awarded for team success for basketball and also the most important one.
Additionally, players and coaches also get NBA championship rings, and these are often made from gold with diamonds in them. They are typically customized every year unlike the Larry O'Brien trophy, by the team or players that win it. Typically, the ring's design has the championship team's logo along with the Larry O'Brien trophy on it.
The MVP award is awarded for greatest individual performance in the regular season.
The NBA Finals MVP award is awarded for the greatest individual performance in the NBA Finals.
The Defensive Player of the year award is given to the best individual defender during the regular season.
The Sixth Man of the year is awarded to the best player who isn't a starter.
The Most Improved Player award is given to the player with the greatest improvement from his prior season.
The John R. Wooden Award, more simply referred to as the Wooden Award, is an honor given to the best player in college basketball for a given season. The award recognizes the most consistent performers in both men's and women's basketball. It is named after former UCLA head coach John Wooden, who is widely regarded as one of the greatest college basketball coaches of all-time.
While there is no specific criteria for the award other than being deemed "the best" college basketball player in the nation, statistical performance is the most important determining factor in deciding who receives the honor. Wooden Award winners generally post a significant number of points, rebounds and assists (passes leading to a made shot) on a game-to-game basis, leading their respective teams to a winning record by contributing in a variety of different ways.
Aside from being labeled college basketball's player of the year, each Wooden Award winner also receives a trophy and a scholarship grant for their college. Thus, the award has implications beyond the individual player, providing the university with the funds required to admit future athletes that could not otherwise attend the school without financial help.
The most important NBA trophy awarded to a team rather than individuals, is The Larry O' Brien trophy, which is awarded to the team that wins the NBA Finals after the playoffs. Each team that wins in a given year gets a championship trophy they get to keep. Furthermore, there is also a trophy that each team that wins the conference finals (semifinals) gets too.
The team with the most trophies in NBA history is the Boston Celtics who have 17 NBA championship trophies. The Celtics earned 11 of those 17 trophies when they won 11 titles in 13 years in the 1960s, which is considered to be arguably the greatest basketball dynasty ever. The Celtics though are only one championship trophy ahead of their greatest rivals, the Los Angeles Lakers, who have won 16 NBA Championships and won 4 or more championships in three separate decades. So in total the Lakers and Celtics account for 33 of the previous 72 NBA titles, and no other team has more than 6 NBA championships in total. Showing that only a few teams dominate in basketball, as only 10 out of the 30 NBA franchises have more than one championship, and 9 teams only have one championship. Meaning that 11 of the 30 teams have no championships and 20 teams have one or less championships overall.
The NBA championship trophy has had the same design for over 40 years, and has been made by the same company, Tiffany and Co, since the 1978 season.
The trophy itself is two feet tall and made of 16 pounds of sterling silver, with a 24 karat gold overlay on top of the silver.
So even though the trophy is not entirely all gold it is still very expensive at an estimated $13,500 dollars from the silver plus gold overlay.