UK free to-air-broadcaster, ITV, will not renew its contract to broadcast The Boat Race beyond next year.
According to UK newspaper, The Guardian, the cost of the broadcasting rights for the annual clash between Oxford and Cambridge and its associated production expenses, which include various camera positions along the River Thames and two helicopters overhead, are considered excessive at a time when the ITV network is refocusing its sports budget on top-flight football.
Despite this year's race attracting a peak audience of 7.6 million – the highest since ITV took over coverage of the event and a 76 per cent increase on the previous year – the broadcaster has decided not to renew its contract after next year's race on March 29.
In a statement to the press, an ITV spokesman said: "We are tremendously proud to have broadcast the Boat Race over the past four years. ITV Sport's award-winning coverage of the historic event has been well received by both critics and viewers alike.
"However ITV has invested significantly in securing a fantastic football portfolio, including live England internationals, Champions League and FA Cup until 2012, and therefore we will not be renewing our contract for the Boat Race, with the 2009 race the last on ITV1. We wish the organisers well."
It is understood that the BBC, which broadcast the race between 1924 and 2004 on radio and television, is once again the most likely destination for the coverage of the race from 2010.
As well as being one of the oldest events on the sporting calendar – next year's race between the Light Blues of Cambridge and the Dark Blues of Oxford will be the 155th since it first took place in 1829.
