Story highlights Heisman finalists are Jackson, Watson, Baker Mayfield, Jabrill Peppers and Dede Westbrook

Louisville's Jackson emerged as early front-runner but has struggled down the stretch

(CNN) The race for the Heisman is finally coming into focus -- and just in time.

The 82nd annual Heisman Trophy ceremony will take place Saturday at the New York Marriott Marquis in Times Square, with two clear front-runners for the award: Louisville sophomore quarterback Lamar Jackson and Clemson junior quarterback Deshaun Watson.

At Thursday's College Football Awards presentation in Atlanta, Jackson won the Maxwell Award, which is given to the player of the year. Watson, who finished third in the Heisman voting last year, won the Davey O'Brien Award, which is for the best quarterback in the nation.

The finalists for the 2016 Heisman Trophy are Jackson, Watson, Oklahoma junior quarterback Baker Mayfield, Oklahoma senior wide receiver Dede Westbrook and Michigan junior linebacker Jabrill Peppers.

Photos: Heisman winners who made their mark on the NFL Doak Walker, a halfback for Southern Methodist University, with his Heisman Trophy during a dinner at the Downtown Athletic Club in New York on December 7, 1948. The trophy was established in 1935 and is awarded annually to an "outstanding college football player whose performance best exhibits the pursuit of excellence with integrity," according to the Heisman Trust Hide Caption 1 of 18 Photos: Heisman winners who made their mark on the NFL Notre Dame quarterback Paul Hornung imitates the Heisman stance as he poses with his trophy at the Downtown Athletic Club in New York on December 12, 1956. Notre Dame finished 2-8 that year despite Hornung winning the Heisman. Hide Caption 2 of 18 Photos: Heisman winners who made their mark on the NFL Navy quarterback Roger Staubach, No. 12, huddles with teammates during a game against the University of Pittsburgh on October 26, 1963. Staubach went on to play in four Super Bowls with the Dallas Cowboys. Hide Caption 3 of 18 Photos: Heisman winners who made their mark on the NFL O.J. Simpson, playing for the University of Southern California, tries to break a tackle as he picks up 5 yards in Los Angeles Memorial Coliseum on November 9, 1968. That year, Simpson scored 22 touchdowns. Hide Caption 4 of 18 Photos: Heisman winners who made their mark on the NFL Stanford University quarterback Jim Plunkett plays in a game against the University of Southern California on November 10, 1970. Hide Caption 5 of 18 Photos: Heisman winners who made their mark on the NFL Archie Griffin of Ohio State speaks during press conference on December 02, 1975, after he was named winner of the Heisman Trophy for the second time, becoming college football's only two-time Heisman Trophy winner. He went on to play in the NFL for seven seasons with the Cincinnati Bengals. Hide Caption 6 of 18 Photos: Heisman winners who made their mark on the NFL Tony Dorsett of the University of Pittsburgh holds the ball aloft as he runs past Temple safety Chuck Gill during a game in Pittsburgh on September 27, 1976. After a career in professional football, Dorsett said he now struggles with trauma-induced memory loss. Hide Caption 7 of 18 Photos: Heisman winners who made their mark on the NFL Earl Campbell of the University of Texas runs with the football during a 1977 game against the University of Houston. Hide Caption 8 of 18 Photos: Heisman winners who made their mark on the NFL Heisman Trophy winner George Rogers, center, poses with his mother, Grady Rogers, and South Carolina Gov. Richard Riley, after he was formally presented with the trophy at a dinner in New York on December 12, 1980. In accepting the trophy, Rogers paid tribute to his mother and his coaches. "I'm happy for the University and for my teammates, too," Rogers said. Hide Caption 9 of 18 Photos: Heisman winners who made their mark on the NFL University of Southern California star running back Marcus Allen and coach John Robinson, right, join the rest of the USC Trojans after their victory over the UCLA Bruins in Los Angeles on November 21, 1981. Hide Caption 10 of 18 Photos: Heisman winners who made their mark on the NFL Running back Herschel Walker of the Georgia Bulldogs dives for a touchdown against Tennessee in 1982. Hide Caption 11 of 18 Photos: Heisman winners who made their mark on the NFL Tim Brown plays in a game at Notre Dame in 1987. Notre Dame and Ohio State are tied with seven Heisman trophy wins, the most any school has won. Hide Caption 12 of 18 Photos: Heisman winners who made their mark on the NFL Barry Sanders, playing for Oklahoma State, pushes his way through Miami University-Oxford players during a game in Stillwater, Oklahoma, on September 10, 1988. Hide Caption 13 of 18 Photos: Heisman winners who made their mark on the NFL Ohio State's Eddie George pulls away from Iowa defender Bill Ennis-Inge in Columbus, Ohio, on October 28, 1995. After retiring from the NFL, George took up acting and appeared on Broadway as lawyer Billy Flynn in the musical "Chicago" this year Hide Caption 14 of 18 Photos: Heisman winners who made their mark on the NFL Michigan's Charles Woodson kneels beside the Heisman Trophy after becoming the first primarily defensive player to win the honor at the Downtown Athletic Club in New York on December 13, 1997. Hide Caption 15 of 18 Photos: Heisman winners who made their mark on the NFL Texas tailback Ricky Williams poses with the Heisman Trophy at the Downtown Athletic Club in New York on December 12, 1998. Hide Caption 16 of 18 Photos: Heisman winners who made their mark on the NFL University of Southern California quarterback Carson Palmer makes a pass during a game against Notre Dame in Los Angeles on November 30, 2002. Hide Caption 17 of 18 Photos: Heisman winners who made their mark on the NFL Auburn quarterback Cameron Newton celebrates a win over Louisiana State University at Jordan-Hare Stadium in Auburn, Alabama, on October 23, 2010. Hide Caption 18 of 18

With a breakout performance in a 63-20 blowout against Florida State on September 17, Jackson became the early favorite to win the Heisman. In that game, Jackson ran for four touchdowns and threw for another, compiling 146 yards rushing and 216 yards passing.

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