Wigan chairman Dave Whelan says he would welcome a tribute to the late Baroness Thatcher during the weekend fixtures.
Neither the Premier League nor the Football League have asked clubs to hold a minute's silence - or applause - in relation to the former Prime Minister.
The Football Association, who preside over Wigan's FA Cup semi-final against Millwall, is also yet to make such a request.
Whelan believes a symbolic gesture would be fitting, though.
"It is not my decision, it is for the FA to decide, but I would be in favour of wearing an armband out of respect to Mrs Thatcher," Whelan told BBC Sport.
"We have to say thank you very much for the services the former PM has given us."