Remove steak from packaging and pat dry with paper towels. Season generously on all surfaces. Place steak on a wire rack over a baking sheet in refrigerator for 12-24 hours.
Remove steak from refrigerator 1 hour prior to grilling.
Clean and lightly oil grill grates. Set up grill for indirect grilling. If using a gas grill with 3 or more burners, turn on the side burners and leave the middle burners off. Adjust the side burners until the thermometer reads 400 degrees. If using a 2 burner, turn one side on and the other side off. If using a charcoal grill, arrange hot coals evenly on either side of the charcoal grate. Place a drip pan with water in the center to collect drippings and keep them from burning. Adjust your air vents to get the grill to 400 degrees.
Place steak on the grate over the burner that is off or the center part of the grill. Grill, turning frequently, for 20minutes, or until steak has reached 125°F for rare or 135°F for medium.
Move steak over to high heat area of grill and sear all sides.
Remove from grill and let rest for 10 minutes, then carve and serve.