The award was founded by the Downtown Athletic Club in 1935 to recognize "the most valuable college football player east of the Mississippi." After the club's creative director, John Heisman, died the following year, it was renamed after him and expanded to the remaining country.
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2016 Heisman Trophy winner Lamar Jackson
2016 Heisman Trophy winner Lamar Jackson
NEW YORK CITY, NY - DECEMBER 10: 2016 Heisman Trophy finalist University of Louisville quarterback Lamar Jackson (4) answers questions during the 81st Annual Heisman Trophy press conference on December 10, 2016, at the Marriott Marquis in New York City. (Photo by Rich Graessle/Icon Sportswire via Getty Images)
NEW YORK, NY - DECEMBER 10: A detail of Lamar Jackson of the Louisville Cardinals during a press conference prior to the 2016 Heisman Trophy Presentation at the Marriott Marquis on December 10, 2016 in New York City. (Photo by Michael Reaves/Getty Images)
LOUISVILLE, KY - OCTOBER 22: Lamar Jackson #8 of the Louisville Cardinals runs drills before the game against the North Carolina State Wolfpack at Papa John's Cardinal Stadium on October 22, 2016 in Louisville, Kentucky. (Photo by Andy Lyons/Getty Images)
CHESTNUT HILL, MA - NOVEMBER 05: Lamar Jackson #8 of Louisville reacts following a game against Boston College at Alumni Stadium on November 5, 2016 in Chestnut Hill, Massachusetts. (Photo by Billie Weiss/Getty Images)
October 1, 2016: Louisvilles quarterback Lamar Jackson getting off the bus and entering Death Valley during pre-game between the Clemson Tigers and the Louisville Cardinals at Memorial Stadium in Clemson, SC. (photo by Doug Buffington/ Icon Sportswire).
CLEMSON, SC - OCTOBER 01: Lamar Jackson #8 of the Louisville Cardinals speaks with his mother after his teams defeat to the Clemson Tigers at Memorial Stadium on October 1, 2016 in Clemson, South Carolina. The Clemson Tigers defeated the Louisville Cardinals 42-36. (Photo by Grant Halverson/Getty Images)
Sep 17, 2016; Louisville, KY, USA; Louisville Cardinals quarterback Lamar Jackson (8) runs the ball against the Florida State Seminoles during the second half at Papa John's Cardinal Stadium. Louisville defeated Florida State 63-20. Mandatory Credit: Jamie Rhodes-USA TODAY Sports
Nov 5, 2016; Boston, MA, USA; Louisville Cardinals quarterback Lamar Jackson (8) prepares to make a pass during the second quarter against the Boston College Eagles at Boston College at Alumni Stadium. Mandatory Credit: Greg M. Cooper-USA TODAY Sports
LOUISVILLE, KY - SEPTEMBER 17: Lamar Jackson #8 of the Louisville Cardinals celebrates after a Louisville touchdown during the game against the Florida State Seminoles at Papa John's Cardinal Stadium on September 17, 2016 in Louisville, Kentucky. (Photo by Bobby Ellis/Getty Images)
LOUISVILLE, KY - NOVEMBER 12: Lamar Jackson #8 of the Louisville Cardinals runs with the ball during the game against the Wake Forest Deamon Deacons at Papa John's Cardinal Stadium on November 12, 2016 in Louisville, Kentucky. (Photo by Andy Lyons/Getty Images)
LOUISVILLE, KY - SEPTEMBER 17: Lamar Jackson #8 of the Louisville Cardinals celebrates with Jamari Staples #2 after he ran for a touchdown against the Florida State Seminoles at Papa John's Cardinal Stadium on September 17, 2016 in Louisville, Kentucky. (Photo by Andy Lyons/Getty Images)
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On Thursday during the Home Depot College Football Awards, Jackson won the Maxwell Award while Clemson QB Deshaun Watson won the Davey O'Brien Award, both of which are seen as precursors to the Heisman trophy.
At 19 years old (and 337 days), Jackson is the youngest Heisman Trophy winner — and is five days younger than Jameis Winston was at the time of his win in 2013. Winston is now the starting quarterback for the Tampa Bay Buccaneers.
Currently a sophomore at Louisville, Jackson passed for 3,390 yards and 30 touchdowns with nine interceptions this season, and also accumulated 1,538 yards and 21 touchdowns on the ground.
Prior notable Heisman Trophy winners include Tim Tebow, Cam Newton, Matt Leinart, Eddie George, Doug Flutie and Herschel Walker.
Two past winners who suffered falls from grace are O.J. Simpson, from USC, and Johnny Manziel, from Texas A&M. On Monday, the 1994 winner of the award, running Rashaan Salaam from Colorado, died at the age of 42.
Last year's receipient was Alabama running back Derrick Henry.