From the Wiki article:
"Irrelevant Week" arose in 1976, when former Southern California and NFL receiver Paul Salata founded the week in Newport Beach, California. He continues to announce the final pick of the NFL draft to this day. During the summer after the draft, the new Mr. Irrelevant and his family are invited to spend a week in Newport Beach, California, where they enjoy a golf tournament, a regatta, a roast giving advice to the new draftee, and a ceremony awarding him the Lowsman Trophy. The trophy mimics the Heisman, but depicts a player fumbling a football.
