According to The Tennessean, Priscilla Presley has decided to discontinue the Graceland Challenge Trophy in memory of her ex-husband Elvis Presley.  Celebration CEO Mike Inman stated that he was unaware of the request and would like the opportunity to speak with Presley.

http://www.tennessean.com/article/20131226/NEWS01/312260049/Priscilla-Presley-no-supporter-walking-horse-industry-seeks-revoke-Graceland-trophy