Sydney is expected to get at least one more multi-million dollar race as Racing NSW continues to build on the success of The Everest and to bolster the spring carnival.

The governing body will announce plans on Wednesday for a new race or races to reportedly be held on Cox Plate day, October 26, 2019.

The Everest, to be increased from its $13 million this year, will be held a week earlier, the same day as the Caulfield Cup.

While Sydney has traditionally focused on the autumn carnival which features showcase races including the Golden Slipper and the Doncaster Mile, the success of The Everest has turned attention to the spring.

More than 40,000 people attended Everest day this year and Racing NSW is keen to capitalise on the October time slot when the NRL season has finished.

The Everest (1200m) is subscription-based with slot holders choosing the horses to run in their names.

It is believed any new races will not be in that format and the prize money will be funded from outside Racing NSW revenue.