British institutions do not "change much," according to Annie Vernon of the LONDON TIMES. Parliament is "still staffed by men in tights, and the Crown Jewels are guarded by people in embroidered red overcoats." This makes what is happening to the Boat Race this year "even more remarkable: women are invited for the first time." They will "both race on Saturday," the women at 4:50pm and the men at 5:50pm. Many "wanted change but it needed an outsider to make it happen." A few
years ago, that change "arrived in the shape of Newton Investment
Management, sponsors of the women's race," and its parent company BNY
Mellon, supporting the men's event, which was "only prepared to write the
cheques on the condition there was gender equality." Yet with only
0.4% of U.K. sports sponsorship going to women's sport, Newton's
decision to sponsor the women's Boat Race "would appear to be a huge
gamble." If it "was a gamble, it has paid off:" since '11 when the deal began, Newton has made a 300% return on its investment,
and this year Newton expects it to be "many times higher." Newton CEO Helena Morrissey said that "deciding to take that first step
into the women's market carries a higher risk than conventional men's
sports sponsorship, where you know the TV coverage, global reach, and
estimated return." She added that it is an "unknown product, requiring 'more of a vision
than a spreadsheet' from businesses." Crucial for "leveraging sponsorship" is that Sky, BBC and BT Sport are "developing targets around their coverage of women's sport." Morrissey: "There's
slightly less of a leap of faith [for companies] because when we were
agreeing to sponsor the women's race, at the time ... the BBC hadn't
committed to covering it live." Entering the women's sport sponsorship market for "different reasons
to Newton, but equally optimistic about the opportunities offered," Kia signed a two-year deal in '14 to become the
first stand-alone sponsor of England women's cricket (LONDON TIMES, 4/6).
