The NBA Finals is the championship series for the National Basketball Association (NBA) held at the conclusion of its postseason. All NBA Finals have been played in a best-of-seven format, and are contested between the winners of the Eastern Conference and the Western Conference, except in 1950 when the Eastern Division champion faced the winner between the Western and Central Division champions. From 1946 through 1949, when the league was known as the Basketball Association of America (BAA), the playoffs were a three-stage tournament where the two semifinal winners played each other in the finals. The winning team of the series receives the Larry O'Brien Championship Trophy, which is awarded since 1977.