Victoria Derby winner Polanski is not as seriously injured as was first thought, although his future remains uncertain.

Trainer Robbie Laing initially believed Polanski had fractured a pastern during the Futurity Stakes at Caulfield on Saturday.

The horse underwent examination at the nearby Caulfield equine centre where it was initially believed the horse had suffered a more serious injury.

But Laing later reported Polanski's injury was restricted to a tendon.

"It's not as bad as we feared," Laing said.

"But it's too early to be thinking about his future."

Polanski finished tailed off in the Futurity in his return to racing.