The Amateur Rowing Association is in the race to host the event at Dorney Lake and should its bid be successful, it can expect a large chunk of Lottery funding.

UK Sport has pledged £1.15m from the world class events programme towards the costs of staging the event.

According to UK Sport chairman Sir Rodney Walker, recent British successes in the sport have given fans of the sport much to be proud of.

Excellent venue

"The achievements at recent Olympic Games, most notably by Sir Steven Redgrave and Matthew Pinsent, have proved an inspiration to thousands of rowers and general sports fans up and down the country," he said.

"Dorney Lake is an excellent venue and we are confident that the UK can stage a truly world class event.

"Being awarded the 2006 World Championships would cement Britain's reputation as one of the world's leading rowing nations."