The Stanley Cup, notably the oldest trophy competed for by professional athletes in North America, was donated in 1892 by Sir Frederick Arthur Stanley, Lord Stanley of Preston and son of the Earl of Derby. He purchased the trophy for 10 Guineas ($50.00 at that time) to be presented to "the championship hockey club of the Dominion of Canada." The first team ever awarded the Stanley Cup was the Montreal Amateur Athletic Association in 1893. Since 1910, when the National Hockey Association took possession of the Stanley Cup, the trophy has been symbolic of professional hockey supremacy. Beginning in 1926, only NHL teams have competed for this prized trophy.