Victorian Racing Club President Amanda Elliott says she remains optimistic about talks with the state government to get a crowd of several thousand to the Melbourne Cup on November 3, claiming it would be "ridiculous" to ban all crowds given the current low virus numbers.

Ms Elliott was speaking at a virtual AFL grand final lunch for the Victorian business chamber along with AFL chief executive Gillon McLachlan, Collingwood coach Nathan Buckley and others, ahead of Saturday's grand final between Richmond and Geelong in Brisbane.