Owner Rupert Legh says he has already discussed the possibility of having a horse walkway at Flemington named in honour of Araldo.

Araldo had to be euthanised after breaking a leg in a freak accident while returning to the mounting yard after running seventh in Tuesday's Melbourne Cup.

The horse was spooked by a flag-waving racegoer.

Araldo's death prompted changes to post-race procedures for the remaining Group One races of the Melbourne Cup carnival.

Legh said ways of honouring Araldo had already been brought up with the Victoria Racing Club.

"Because he's basically going to be the catalyst behind having the way horses come back in to scale changed, we thought it might be appropriate that the lane where they come in now be called Araldo Lane," Legh said.

"I think that will be going before the committee at the next committee meeting."

It's been a tough few days for the connections of the Mike Moroney-trained Araldo and the people close to the horse.

Legh has runners in feature races on Saturday including the Moroney-trained Rhythm To Spare in the Group One Emirates Stakes.

Chautauqua, a horse trained by Team Hawkes, is favourite in the Darley Classic, while Big Memory is in the Queen Elizabeth Stakes.

"Hopefully Lady Luck will be out there smiling on us tomorrow," Legh said.