Racing NSW are confident prizemoney levels for The Championships are sustainable despite the NSW Government so far committing support for only one year, reports Racing Network.

With more than $18 million on offer across the two-day event at Royal Randwick in 2014, and increases of $2.3 million for races earlier in the autumn carnival, questions have been asked to whether the extraordinary levels can be sustained beyond next year.

"We have got a lot of models we are working upon and we will take a look at it after it after we have run the first event but there is no doubt that the Government has given us the first kick because of the faith it has shown in the ability for this event to work on a wold wide basis, for tourism, for wagering, for visitation and participation," said Ian Mackay, the chief executive of The Championships.

"We have got a range of different models that we think can make it a sustainable event from 2015onwards and we wouldnt have stuck our necks out in 2014 if we didn't believe we would make that happen."

Racing Minister George Souris confirmed the $10 million injection had only been confirmed for 2014 but did not rule out the NSW Government supporting the event beyond next year.

"The Government funding is $10 million and whilst the NSW Government, Racing NSW and the Australian Turf Club, aspire to this becoming a bigger and better event, we need to just see how it pans out and we will go from there, it is our intention, all of us, that this autumn carnival starts off as you now know and is able to continue," he said.

“The Championships will generate more than $41 million to the economy of NSW, increasing further as the event gains momentum.

"We have chosen this path to help ensure funds accumulated from Race Fields fees are preserved for use in country and provincial areas.

“We have selected three iconic races and enhanced them to make them the richest of their type in the world, these are the Star Doncaster Mile, the world’s richest mile race now worth $3 million, the Darley TJ Smith Stakes, the world’s richest open sprint race at $2.5 million and on day two the Queen Elizabeth Stakes, at $4 million becoming the world’s richest 2000 metre turf race,” said Mr Souris.

“Sydney is our global city and offers a stunning backdrop to any sporting event. There’s no better place to stage The Championships.”