Rowers on the ThamesHerry Lawford

A spokesman for the Metropolitan Police said  that the race organisers had been informed.

A Scotland Yard spokesman said: “Police were called by a member of the public at approximately 1.50pm on Saturday reporting what they thought to be World War Two ordnance on the Chelsea shoreline by Putney Bridge.

“Officers including the Marine Policing Unit attended. The item is currently submerged.”

Speaking to Varsity, Michelle Dite, the Race Director said: “At this stage the Races will go ahead as planned. Any decisions regarding changes to the event will be made in conjunction with the police. No decision will be made today.”

Large crowds of people are set to gather around the area in order to watch the race, with over 5,000 people listed as attending on the Facebook event and over 250,000 expected.

The men’s boat race is due to start at 5:35pm and the women’s race, held on the Tideway for the third time in history, will take place at 4:35pm.