BBC loses boat race rights

ITV has snatched the rights for the Oxford and Cambridge boat race from the BBC.

The event - which has been a fixture in BBC TV schedules for 50 years - will be shown for the last time on the station next month, when it celebrates its 150th anniversary.

It will be seen as blow to the BBC, which has been trying to recover rights to screen big national sporting events.

ITV is expected to clinch a five-year deal starting in 2005. Boat race organisers plan a complete overhaul which will feature a dramatic increase in the amount of sponsorship. 'It still gets great viewing figures and it remains one of the great sporting occasionsan ITV Sport spokesman said. The network's coverage will be hosted by Gabby Logan and Olympic rowing star James Cracknell.

A BBC spokesman said it had lost the rights 'in light of the organiser's desire to pursue a highly commercial agenda for the event'.

He added: 'We intend to make the 150th boat race in March a fitting finale and we will concentrate on rowing at Olympic and world championship levels.' Last year, the race drew an audience of 7.2 million to BBC1.