No, "to rubbish" is basically to criticise - to say why something is rubbish. "Watch out for John: he was rubbishing your ideas in last week's staff meeting."
Some prestigious private secondary schools and Oxford and Cambridge take student sport seriously (there's an old saying that gentlemen went to Oxford to get a First [class degree, i.e. the highest grade available], a wife, or a Blue" where a Blue is the honour awarded to those who represent the university in the major sports, with rowing and rugby being significant enough for the matches against Cambridge to be televised.) Apart from that, there's very little attention paid to inter-institution sport, except by those who participate, even if the competitors are very good - and in some sports, of course, someone can be representing their country at 14 or 15. Traditionally Wednesday afternoons are left free of classes at universities, though, so there is travel time for inter-university sport, and that makes Wednesday night particularly interesting in student bars!