Winklevoss twins to sponsor Oxford-Cambridge Boat Race

The Winklevoss brothers’ cryptocurrency company will sponsor the annual British sporting event this year

The Boat Race will take place on April 4 in Ely, Cambridgeshire this year (David Ashdown)

The Oxford vs Cambridge Boat Race next month will be sponsored by the company founded by the Winklevoss twins.

Cryptocurrency group Gemini has been announced as the principal partner of the race which will take place in Ely, Cambridgeshire this year rather than south west London due to coronavirus health concerns.

The Winklevoss twins rose to fame through their role in creating Facebook and the claims made by the brothers that Mark Zuckerberg stole their idea for the social media website, a dispute that had to be resolved with a multi-million dollar settlement.

American brothers Cameron and Tyler, both 39, raced for Oxford University in the 2010 Boat Race and also represented the United States at the 2008 Beijing Olympic Games.

The Winklevoss brothers were made famous through their role in Facebook (Reuters)

The sponsorship deal with the historic race also includes a £75,000 bursary to give underprivileged children rowing lessons at the Fulham Reach Rowing Club.

Speaking about the announcement, Cameron said in a statement: “Our experience in rowing taught us that whether you are building yourself as an athlete or building a startup, the power of big dreams together with conviction and perseverance cannot be underestimated.

“We are excited to support this historic event to go ahead safely and widen access to the sport through The Gemini Boat Race Bursary Scheme. Our hope for the Bursary Scheme is to enable more young people to explore the skills that rowing develops in and outside of the boat, including focus, confidence and teamwork.”

The American brothers took part in the 2010 Boat Race for Oxford University (RICHARD HEATHCOTE / GETTY)

The Boat Race between universities Oxford and Cambridge is one of the biggest sporting rivalries in Britain, with the annual event taking place every year from 1829 until the coronavirus pandemic cancelled last year’s event. It is the first time the race has taken place outside of London since the Second World War.

The Boat Race is normally sponsored by financial and professional services companies, meaning Gemini’s role in the event signals a new era in the backing of the event.

Gemini was founded in 2010 by the Winklevoss twins and promotes the buying, selling and holding of cryptocurrency such as bitcoin. Financial terms of the sponsorship are yet to be released.