Campus race: I arranged for an old trophy (8,3)

I believe the answer is:

america's cup

I'm a little stuck... Click here to teach me more about this clue!

'an old trophy' is the definition.
'americas cup' can be an answer for 'trophy' (I've seen this before). I'm unsure of the 'an old' bit.

'campus race i arranged' is the wordplay.
'arranged' indicates anagramming the letters (letters rearranged).
'campus'+'race'+'i'='campusracei'
'campusracei' is an anagram of 'AMERICAS CUP'.

'for' acts as a link.

Can you help me to learn more?

I've seen this clue in The Everyman puzzle in The Observer.

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