Title sponsorship of the 2016 Boat Race has been donated to the Cancer Research UK (CRUK) charity after an agreement between two of the event’s commercial partners was reached.
The Oxford and Cambridge University men’s and women’s crews meet for their annual race on London’s River Thames between Putney and Mortlake on March 27.
The event will now take on the official title of the Cancer Research UK Boat Race after investment services group BNY Mellon and the Newton Investment Management company agreed to waive their title sponsorship rights.
As part of the agreement, a new Boat Race identity will be developed that incorporates the charity’s colours. CRUK is the official charity partner of the race.
BNY Mellon and NIM will lend their support to CRUK in the build-up to the race and will organise their own initiatives to help raise funds for the charity.
“We are delighted to be trailblazing a whole new model for corporate sponsorship,” Helena Morrissey, chief executive of NIM, said. “The role of business in society is clear: in addition to performing well for customers and shareholders, we can and must use our resources to help solve difficult problems.”
Curtis Arledge, vice-chairman of BNY Mellon and chief executive of investment management, added: “We are committed to ensuring our sponsorship of the Boat Races reflects our focus on meaningful investments, especially when we can leverage our sponsorship to further effect change. We are proud to be working with Cancer Research UK, whose work touches the lives of so many. We have the opportunity to be a sponsorship partner that genuinely changes people’s lives for the better through sport.”