Eight-year-old Magnapal could spoil the party for a number of Caulfield Cup aspirants when he chases a second MRC Foundation Cup win.

Magnapal won the MRC Foundation Cup, registered as the Naturalism Stakes, two years ago and lines up in the Group Three 2000m race at Caulfield for the third-straight year on Saturday.

The winner earns a ballot exemption into next month's Caulfield Cup, if nominated, but Magnapal is not even entered for the $3 million handicap this year having finished 14th two years ago.

Instead, his new trainer Daniel Bowman is looking at the Listed $300,000 Cranbourne Cup (2025m) on October 15 as a realistic target after Saturday with other country Cups also on the radar.

Magnapal was formerly trained by Terry and Karina O'Sullivan at Stawell before being transferred to Bowman at Warrnambool.

He had his first start for Bowman on August 5 off a nine-week let-up and finished third in a 1600m handicap at Flemington.

Bowman believes the change of scene and change of routine, including working on the beach, has worked for the eight-year-old, along with getting him over a few niggling feet issues.

Magnapal notched his first win since the 2015 Naturalism in his fourth start for Bowman at Moonee Valley over 2040m on September 9, which confirmed plans for another crack at the Naturalism.

"We're rapt with how he came through his last start," Bowman said.

"He bounced out of that run like he had not gone around, so I'm really excited about Saturday.

"He's drawn a good gate and should land in a good spot and have a good chance."

Saturday's field of 16 includes 14 horses nominated for the Caulfield Cup, including Tally who is already exempt from ballot.

The Gai Waterhouse and Adrian Bott-trained Stampede is the $4.20 favourite to cement a Caulfield Cup berth, with Abbey Marie on the second line of betting.

The Lindsay Park stable has four runners while Victoria's premier trainer Darren Weir has Big Duke, Articus and Amelie's Star.