History
This trophy was donated by the Prince of Wales before the 1924-25 NHL season, to be awarded to the team with the best record during the league's regular season.
From 1927-28 through 1937-38, it went to the team that finished first in the NHL's American Division. The NHL then went back to a one-division format and the trophy was returned to its original purpose.
When the NHL expanded in 1967-68, it became a regular-season divisional trophy once more. Through the 1973-74 season, it went to the East Division regular-season champion and from 1974-75 through 1980-81 to the regular season champion of the Prince of Wales Conference.
Since the 1981-82 season, the trophy has been awarded to the conference playoff champion. From 1981-82 through 1992-93 it went to the Wales Conference playoff champion. Since 1993-94, it has been awarded to the playoff champion of the Eastern Conference.