The 49th Boat Race took place on 9 April 1892. The Boat Race is an annual side-by-side rowing race between crews from the Universities of Oxford and Cambridge along the River Thames. Oxford went into the event as reigning champions, having won the previous year's race. In total, twelve of the competitors had previous Boat Race experience. In a race umpired by former rower Frank Willan, Oxford won by 2+1⁄4 lengths in a time of 19 minutes 10 seconds. It was their third consecutive victory and the fastest in the history of the event at that time.

The 48th Boat Race took place on 21 March 1891. The Boat Race is an annual side-by-side rowing race between crews from the Universities of Oxford and Cambridge along the River Thames. Oxford went into the race leading 24–22 in the event overall. In total, eight rowers who were participating had previous Boat Race experience. Umpired by former Oxford rower Frank Willan, pre-race favourites Oxford won by half-a-length in a time of 21 minutes 48 seconds. It was Oxford's narrowest winning margin since the 1867 race.