[1] The Britannia Challenge Cup was originally presented in 1969 as an event for four-oars with coxswain (Coxed Fours) open to club and student crews, and was contested for its first 35 years by an entry of 32 crews, racing over 5 days - with many times its entry number entering qualification and pre-qualifying races.

The Britannia Challenge Cup was split between club and student crews in 2004, having created additional competition time by removing the Prince Philip Challenge Cup, which had been contested by a small entry (usually between 2–4) of international elite oarsmen but was removed from the racing programme in line with the continued removal of coxed fours racing from international regattas meaning that it had lost value.

The Britannia Challenge Cup remained as the club coxed fours' competition, while the Prince Albert Challenge Cup for men's student coxed fours created in a similar mould, but with entry restricted to: No composite crews are allowed to enter.

The trophy was designed and created by Hector Miller and was presented by Imperial College London - the 2004 winners.

It is named after Prince Albert who became the first Royal Patron of the Regatta in 1851 and was also closely associated with the origins of Imperial College.