It was first contested in 1973–74 and later in the decade the competition's name was changed the BCCP Invitation Tournament. In 1980–81 it became the PACO Cup and remained so for a further five seasons. For the rest of the decade the tournament didn't take place and it wasn't until the 1990s that is returned, albeit sporadically. The Trophy returned again in 2005–06 and was held every season until 2011–12, after which it again went into abeyance.
The Pentangular Trophy is generally contested between five teams who play each other on a round-robin basis. Sometimes there is a final between the top two teams; sometimes the winner is the side that tops the table with the most points.