If the prize comes from a bigger entry fee- No. Why make getting into racing more expensive?
If the prize comes from sponsors inside the sport - No. As pointed out earlier, they will get it back from inside the sport.
If the prize comes from external sponsors - probably not.
1) big-boat mono racing shows how aggro sailing can become when money is involved.
2) Sponsors demand publicity = demand exciting images. Great for sailing in a way, but what does it really do?
Here in Australia we've had live coverage of sailing (skiffs and Sydney-Hobart) for years. Neither class did well out of it. Both priced themselves out of the sport and the skiffs only recovered after TV went away. The Hobart gets lots of publicity but the fleet this year was the smallest for decades, becuase only the front of the fleet gets publicity and attention. The whole race becomes about them, the back of the fleet gives up and goes away.

Sure, the images look exciting. But will non-sailors see an F18HP and say "Gee, I'll do that". I've spent hours sitting beside the wavesailing and skiff vidoes at boatshows. Non-sailors look at it, go "wow", then "I'll never be able to do that" and go look at something theyt can do- run a powerboat. The sport should be publicising boats beginners can sail.

Sailing to the public in Sydney is very well known - but only for the Sydney to Hobart, skiffs, and America's Cup. It's got the image of a difficult, elitist sport. When it had a different image, it was growing. Not it's not.

We went through this in windsurfing. The sponsors came in, then demanded that it become more exciting to watch (among other factors, mainly marketing). The whole accent changed, from fun all-round sailing to reaching/waves in high wind. The sport is now a shadow of its former self.

Sorry to run off so long....