The winner of the game is awarded the George M. Steinbrenner Trophy, while the David C. Koch MVP Trophy is awarded to the bowl's most valuable player. The Pinstripe Bowl is one of the two FBS bowls held in the Northeast, the other being the Military Bowl.
On March 9, 2010, the Yankee bowl official name was announced to be the Pinstripe Bowl with New Era Cap Company agreed to sponsor the bowl for four years while ESPN agreed to broadcast the bowl for six years. The inaugural game was played on December 30, 2010. With the NCAA certification approved in April 2010, the Pinstripe Bowl is the 35th bowl on the calendar.
The ACC agreed to a six year deal with the Pinstripe Bowl, and the Big Ten agreed to the alignment for 8 years. The ACC has adopted a tiered system so the same conference position will not necessarily go to the same bowl. ESPN.com quoted sources that 3rd through 6th bowl eligible teams would be tiered with the Pinstripe, Belk, Sun, Gator and Music City bowls.