The award will be selected by a voting panel comprised of national media and each of the Mannings. The voting will take place after the bowl games.
The following is what was included in the release put out by IU media relations.
Sudfeld enters the 2014 campaign second in completion percentage (60.2) and seventh in passing touchdowns (28) on IU's career lists. He completed 194-of-322 (60.2 percent) for 2,523 yards with 21 TDs, nine interceptions and a 142.0 pass efficiency rating in 2013.
The 6-5 gunslinger out of Modesto, Calif., posted three 300-yard games and multi-touchdowns seven times. He finished fourth in TDs and completion percentage, seventh in yardage and ninth in completions on the Hoosiers single-season charts.
Sudfeld was third in the Big Ten in yards per completion (13.0) and yards per attempt (7.8), fourth in passing yards per game (210.2) and completions per game (16.2), tied for fourth in passing scores, fifth in pass efficiency, passing yardage, total offense per game (207.4), completion percentage and points responsible for per game (11.2).
The Manning Award was created by the Allstate Sugar Bowl in honor of the college football accomplishments of Archie, Peyton and Eli Manning. It is the only quarterback award that includes the candidates' bowl performances in its balloting.
"This is always a great time of year with college football ramping up once again," said Archie Manning. "We have a very strong group of 32 quarterbacks on our Watch List this year and we've seen them all in action, but every year there are new guys who jump right in and become stars. That's what makes college football such a wonderful sport - you never know what might happen once the teams get out on the field."
Additional quarterbacks may be added to the Watch List after the start of the season. The list of 10 finalists will be released on Wednesday, Nov. 26. The winner will be announced on Wednesday, Jan. 14.
"We have had the opportunity to recognize 10 outstanding quarterbacks with the Manning Award," said Paul Hoolahan, Allstate Sugar Bowl CEO. "It is truly a great honor for the Allstate Sugar Bowl to sponsor this award and we wish the best of luck to every quarterback and team in the country for another great year of college football."
The Manning Award will be recognizing its 11th winner this year. USC's Matt Leinart was the inaugural winner of the award in 2005, followed by Texas' Vince Young in 2006. Both went on to be top 10 NFL draft picks. In 2007, LSU's JaMarcus Russell earned the award and was the NFL's No. 1 draft pick. Boston College's Matt Ryan claimed the award in 2008 and was drafted No. 3, quickly becoming the starting quarterback for the Atlanta Falcons. In 2009, Florida star Tim Tebow earned the honor - he also went on to be selected in the first round of the NFL Draft. The 2010 winner was Texas signal-caller Colt McCoy, at the time, the winningest quarterback in college football history, who was selected by the Cleveland Browns in the draft. Auburn's Cameron Newton earned the award in 2011, prior to being selected No. 1 overall in the 2011 NFL Draft by the Carolina Panthers. The 2012 honoree was Robert Griffin, III, from Baylor, who was also a top NFL draft pick (No. 2 overall by the Washington Redskins). The 2013 and 2014 winners were also the first freshmen to collect the honor - in 2013, it was Texas A&M's Johnny Manziel, and he was followed by last year's winner, Jameis Winston from Florida State. Both freshmen also collected the Heisman Trophy after their sensational debut seasons.