The Academy of Country Music will present a newly designed trophy during the 2003 telecast. It will be displayed in the lobby of the Mandalay Bay Resort & Casino where the awards ceremony will be held on May 21. "We wanted to preserve the signature cowboy hat of our original trophy," commented Gayle Holcomb, vice chairman of the ACM board of directors. "We wanted to give the statuette a sleek, updated look, too."