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Henley activity, outstanding on river (6)

Ross

I believe the answer is:

rowing

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

'henley activity' is the definition.
'rowing' can be an answer for 'activity' (rowing is a kind of activity). I am unsure of the 'henley' bit.

'outstanding on river' is the wordplay.
'outstanding' becomes 'owing' (an outstanding bill is still owing).
'on' means one lot of letters go next to another.
'river' becomes 'r' (abbreviation).
'owing' put after 'r' is 'ROWING'.

Can you help me to learn more?

(Other definitions for rowing that I've seen before include "Olympic event" , "Aquatic sport" , "Sculling sport?" , "Steven Redgrave's sport" , "Propelling boat with oars" .)

I've seen this clue in The Times and The Sunday Times.
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