The ESPY Awards, short for Excellence in Sports Performance Yearly Awards, is an annual event that honors outstanding athletes and sports moments. Established in 1993 by ESPN, the awards recognize achievements across various sports, including team and individual categories. The ceremony features awards for categories like Best Male Athlete, Best Female Athlete, and Best Team. Winners are determined through a combination of fan voting and expert panels, making it a celebration of athletic excellence and sportsmanship in the previous year.