Tatanggapin nina Pacquiao at Cojuangco ang Sportsman at Sportswo-man of the Year awards bilang mga top athletes ng taong 2002 sa gabi ng parangal na dadaluhan ng mga sports leaders, corporate sponsors, mga miyembro ng iba’t ibang organisasyon sa bansa.
Sina Alex Compton at ang sportscaster na si Patricia Bermudez ang Masters of ceremonies sa awards night na iko-cover ng NBN-4.
Bibigyan ng PSA ng major awards ang top achievers sa professional at amateur basketball, bowling, billiards, boxing, golf at horse of the year at citations sa mga Asian Games silver, at bronze medalists at mga nanalo sa international competitions.
Inimbitahan si Pangulong Gloria Macapagal-Arroyo bilang panau-hing pandangal habang inaasahan ding dumalo sina Philippine Sports Commission chairman Eric Buhain, House Committee on Youth and Sports chair Monico Puentevella, Games and Amusement Board chairman Eduardo Villanueva, Philippine Olympic Committee president Celso Dayrit, International Olympic Committee representative Frank Elizalde at mga presidente ng mga national sports associations.
Ang iba pang sports leaders na inimbitahan ay sina dating International Chess Federation (FIDE) president Florencio Cam-pomanes, dating PSC chairman Philip Ella Juico, dating Project: Gintong Alay executive director Michael Keon, dating POC president Julian Malonzo, dating GAB chairman at PSC commissioner Dominador Cepeda.
Para sa mga awardees na wala pang imbitasyon, maaari itong makuha sa reception table bago mag-alas-7:00 ng gabi. Ang awards night ay sponsored ng Red Bull, Agfa at Photokina at suportado ng Samsung, San Miguel Corporation, Philippine Charity Sweepstakes Office, Philippine Sports Commission at Adidas.