The inuagural Bark Hut Cup is on this Saturday when the Wisanger football club takes on Western Districts at Panther Park.
The Bark Hut property was sold by Nutrien Harcourts in 2019 and had not yet settled when the bushfires ripped through the district in January 2020.
Nutrien Ag's Leo Redden said members of both Wisanger and Wonks football clubs fought the fires at Bark Hut and most of the infrastructure was saved by their efforts.
These members included Jef Ness, Craig and Josh Graham, Jack Buick and others.
Craig and Josh Graham are the new owners of the property, but the old owners the Worsely and Boston families, wanted to help, even though they have moved on from the Island.
"In my discussions with the Bark Hut vendors, Guy Boston and Hamish Worsley, they mentioned that they had a debt of gratitude to the locals that helped when they were unable to," Mr Redden said.
"I suggested that Nutrien Ag supply a perpetual cup to recognise the local firefighters efforts and Guy and Hamish have generously offered a $2000 annual prize for the next 10 years to the winner of the first round match between Wisanger Football Club and Western United Football Club."
The prize is to be split with $500 to go to the home ground canteen to provide free lunch to the kids on the day and $1500 to the players from the winning team to use at their discretion.
In a fitting tribute, the Bark Hut Cup itself has a base made from burnt timber sourced from the Bark Hut property and will be presented after Saturday's game by Rob Horjus, on behalf of Nutrien Ag and the Boston and Worsley families.
Mr Redden said he was looking forward to the Cup presentation on the weekend and also it becoming part of the Island history and fabric.