"It's very much Sheikh Hamdan's decision. The horse is in great form," said Sheikh Hamdan's racing manager, Angus Gold.
"He is just going to have a think about it during the week and see what the weather does, see what looks like running, and everything, and just give it some thought."
Molatham has looked a highly-promising colt in winning the the Convivial Maiden at York and the Listed Flying Scotsman Stakes at Doncaster on his last two starts, having been touched off by Mums Tipple on his Ascot debut.
Sheikh Hamdan has a potential second string to his bow in the Autumn Stakes in Molatham's stablemate, Maqtal - a winner at Yarmouth last month after finishing third on his debut at Doncaster in July.
"I haven't talked to Roger (Varian) yet," said Gold.
"It's not the time to make snap decisions, so I can't really say, but we'll have a think about it and see what to do.
"At this stage, Molatham is the better horse. We'll see what we do with him first and work out what to do with the other fella from there."
The leading owner also has two possibles for the the Group Two Godolphin Stud & Stable Staff Challenge Stakes at Newmarket on Friday in Mohaather and Mustashry.
Mohaather, who has been absent since winning the Greenham Stakes at Newbury in April, holds an entry in the Group One Queen Elizabeth II Stakes at Ascot on October 19.
"The original plan was to aim Mohaather straight for the QEII, but Marcus Tregoning has put him in here, so we'll have a look at both races," said Gold.
Mustashry, winner of the Lockinge Stakes at Newbury in May, was last seen finishing fifth to Enable in the Coral-Eclipse at Sandown,
"As far as I know the plan is to run Mustashry. He's coming back from a break," Gold added.
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