Boat Race Sponsor To End Contract

Xchanging, the title sponsor of the University boat race between Oxford and Cambridge, will end its backing of the annual race when the current contract expires next year.

The outsourcing company will have sponsored the race for the eighth year by the time it ends its affiliation with the race next year.

Xchanging, which runs accounting, personnel, and technology functions for companies, issued a profits warning last month – sending its share price plunging.

The firm has recently suffered financial problems, and last month announced the departure of its chief executive.

David Searle, executive director of The Boat Race Company, said: ‘We are now focused on finding a new title sponsor for the event from 2013’.

‘Given the success of the race and its growing TV, radio and online audience around the world – reaching more than 200 countries – we are confident of securing another partner wanting to help us take the event forward’.

Last weekends 157th boat race was won by this year’s underdog, Oxford.