The Oxford/Cambridge boat race. Dating back to 1829, it has been an annual event since 1856. The tradition is for the losing team to challenge the winning team to a rematch the following year.
The race is held every spring on the last Saturday of March or first Saturday of April. The two boats race along over 4 miles of the River Thames.
Hugh Laurie was a competitor for the 1980 (losing) Cambridge team.
"Boat race" or often just boat is used as cockney rhyming slang for face. "Look at the miserable boat on that".
Here are the jubilant boat races on some winning Boat Racers