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From what's available on the internet, it appears that this question was taken to court during the recent lockout in 2005-06, but there was or has been no result. To summarize the background, Lord Stanley took it upon himself in 1892 to award a cup to the best team in the Dominion of Canada each year. Later, in 1947, the authority to do this was delegated to the National Hockey League (NHL). The NHL now believes it owns this trophy and can even decide whether or not it is awarded from year to year.