Boat Race Xchange Sponsors

The Oxford and Cambridge Boat Race have been left looking for a new sponsor after current sponsors Xchanging said they were pulling out.

Xchanging, an outsourcing company, announced they will not be renewing their current sponsorship contract when it runs out in 2012.

If Oxford’s win last weekend annoyed Xchanging half as much as us it may have influenced their decision, but it seems more likely execs made the call due to recent financial difficulties.

The announcement comes after their shares plummeted to a record low of 56.2p in February, following a warning on profits and the departure of their chief executive.

The company have sponsored the historic boat race for the past 7 years, but next year’s 158th race will be their last.

© Getty Images

Boat Race organisers said they weren’t worried by the end of the deal. David Searle, executive director of The Boat Race Company, said: “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.”

An estimated 6 million viewers watched last weekends 157th Oxford and Cambridge Boat Race.