The race in its current (international) format was the creation of British politician Bryan Gould, who was a former vice-chancellor of the University of Waikato and a graduate of the University of Oxford. The winners receive the right to hold the Harry Mahon memorial trophy. Harry Mahon, who was born in New Zealand, was a highly respected rowing coach for the Cambridge rowing team and the Olympic British rowing eight. He led many crews to World Championship and Olympic medals. Harry Mahon died of liver cancer in 2001.