Long-time favourite Kayf Tara looks set to miss the Foster's Melbourne Cup after sustaining an injury yesterday.

He was found to have inflamed his near-fore after working at his Sandown racetrack base in Melbourne.

Godolphin are flying over their own vet to assess the horse but he has been removed from the betting on next Tuesday's race by local bookmakers - with whom he has been favourite ever since weights were published.

Cox Plate-placed pair Tie The Knot and Sky Heights now dominate betting, with the James Fanshawe-trained Travelmate and Mark Johnston's Yavana's Pace left to represent Britain.

Godolphin's Australian representative Bradley Marzato admitted: "We've got a problem at the moment.

"We are still not sure of the extent of the injury and we'll know more in the next 24 hours.

"We discovered inflammation of the near-fore sustained after Kayf Tara worked this morning and our vet will continue to monitor the situation.

"Our prime concern is the horse's well-being and we will do nothing that will harm that. We try and look after the horse's best interests - we don't want to see him in pain or anything.

"We're all down in the dumps at the moment. He would have been a force to reckon with come race day."

Victoria Racing Club manager Greg Nichols sympathised with Godolphin's plight.

"It's a devastating feeling but as always the welfare of the horse is paramount," he said.

Godolphin do still have Central Park in the Cup but he is due to run in the Mackinnon Stakes on Saturday.

Ladbrokes responded to the news of Kayf Tara's injury by quoting the former 7 to 2 favourite at 4 to 1 "with a run".

Tie The Knot tops revised betting at 5 to 2 (from 4-1), with Sky Heights next at 7 to 2 (from 5-1).