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The Larry O'Brien NBA Championship Trophy, hand-crafted in sterling silver with a 24 karat gold overlay, was designed and manufactured by Tiffany & Co. The trophy, comprised of nearly sixteen pounds of sterling silver and vermeil (sterling silver with 24 karat gold overlay) and standing about two feet tall, is etched to resemble a Basketball net. A single rod extends from the base to the ball, giving the appearance of a play in motion. The regulation size sterling silver and vermeil basketball rests along the rim of the net. The trophy is created each year in the Tiffany & Co. Silver Shop. The NBA Championship Trophy was created in 1978 for the National Basketball Association and renamed in 1984 in honor of the late former NBA Commissioner Larry O'Brien. Larry O'Brien was commissioner of the league from 1975 to 1984 and was inducted into the Basketball Hall of Fame in May 1991. ...copied off wikipedia

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Q: Who is the NBA championship trophy named after and what is his significance in the formation of professional basketball?
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