The award was sponsored by the antacid brand Rolaids, whose slogan was "R-O-L-A-I-D-S spells relief."
Because the first closers were nicknamed "firemen", a reference to "putting out the fire" of another team's rally, the trophy was a gold-plated firefighter's helmet.
Lee Smith won the award on three occasions; Campbell, Dennis Eckersley, Dave Righetti, John Franco, Éric Gagné, Randy Myers, Trevor Hoffman, Francisco Rodríguez, Heath Bell, and José Valverde each won the award twice.
Goose Gossage, Fingers, Eckersley, Hoffman, Rivera, Smith, John Smoltz, and Sutter were elected to the Baseball Hall of Fame.
[7] Craig Kimbrel (NL) and Jim Johnson (AL) were the final award winners in 2012.