Mick Malthouse wants to see fellow Australian football icon Ron Barassi honoured in the biggest way possible.

Reports this week say Barassi’s family have agreed to have a medal in his name presented to the captain of the winning team on grand final day each year.

It would mean one player potentially gets three medals – given every winning player gets a premiership medal and the best on ground earns the Norm Smith Medal.

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Barassi is regarded as the best leader the game has ever seen, hence the idea to present his namesake to the champion captain.

But Malthouse wants the AFL to gone one – big – step further, and name the premiership cup after Barassi.

Barassi died in September last year and this will be the first finals series the league has a chance to properly recognise his enormous contributions.

“He is the greatest name, there is no question,” Malthouse told Nine’s Today on Friday.

“I just think we may have missed an opportunity. I think the Ron Barassi Cup would be something every club would aspire to – that would be a club thing moreso than just a player, a captain.

“It’s fantastic he is being honoured, make no mistake, I’m not knocking that. Ron Barassi is football, and has always been football.

“I really do think though, we might have missed an opportunity.”

Malthouse is not against the idea of a Barassi Medal being presented to the captain.

But he wants the AFL to make a much grander gesture to honour the late champion.

“It is fantastic to see something that says Ron Barassi on it. I know all the captains that I coached, they would have loved it, there’s no question,” he said.

“I think the honour could be extended beyond that. I do (think it should be the cup).”

The AFL has a general bye next week before a four-week finals series.