In 2003 the Pearson Cup was officially resurrected, but not as a winner-take-all exhibition game as had previously been the case. With the teams now scheduled to face each other twice in a season, once at home and once away, it was determined that the new iteration of the Pearson Cup would be awarded to the overall winner of the six season games. In the first three-game series at Olympic Stadium from June 20-22, Toronto took two out of three games. Montréal returned the favour less than a week later when they took two of three at SkyDome (from June 27-29). With the series tied at three games apiece, the Pearson Cup was not awarded to either team in its first year back.
The following year in 2004, the Pearson Cup format was the same as the year previous. In the first series at SkyDome, Toronto won two out of three games between June 25-27. From July 2-4, the final series of the Pearson Cup took place, with Montréal victorious in two of three games. The series, which should have been a Canadian showdown in Montréal over the Canada Day weekend, was instead relocated to Estadio Hiram Bithorn in San Juan, Puerto Rico. The move was reportedly an attempt by MLB to increase interest in Major League Baseball within Puerto Rico, but the series was a flop. The San Juan games drew an average of only 8,000 attendees each, sending the Pearson Cup to its grave without fanfare. With the season series again tied at three games each, the Pearson Cup was not awarded in 2004, and that was the last time it was played; in front of 8,200 disinterested fans on foreign soil.
