This year's Champion Hurdle promises to be one of the most open races in recent memory, with five horses holding realistic chances of victory if entered - and unusually, all trained by different trainers.
The New Lion currently heads the market narrowly for Dan Skelton. The 7 year old won the Turners' Novices Hurdle last year, showing he's got plenty of stamina for this contest, and is still lightly raced with just 6 races over hurdles so far.
He's only raced twice this season; falling when competitive in the Fighting Fifth , before winning the International Hurdle after Sir Gino's unfortunate injury.
Fighting for favouritism is the main Irish chance, Brighterdaysahead. She disappointed in this race last year but had excuses and was an impressive winner of the Irish Champion Hurdle.
She benefits from the 7lb mares allowance which gives her every chance on form figures.
Constitution Hill's last four races can be best described as a nightmare for trainer Nicky Henderson. He fell last time out at just the second fence. Prior to that, he finished a distance fifth when odds on at the Punchestown Festival, fell in the Aintree Hurdle, and fell in this race last year...
Nevertheless he retains the best form any horse has shown in this race, having won this race by 9 lengths in 2023, and he will be popular in the betting despite the question marks.
The Mares' Hurdle looks the more likely option for Lossiemouth, although we'd love to see her take her chance here.
Like Brighterdaysahead, she also benefits from a 7lb allowance. She has won all 4 of her Cheltenham starts, and has won the Mares' Hurdle in both 2024 and 2025.
Finally, last year's winner Golden Ace. Despite winning by 9 lengths, his 2025 victory was rated as worthy of just a handicap mark of 152 by the handicapper. Since then, he has form figures of 2212, but none of those runs have rated at Racing Post Rating of more than 154.
In a normal year that would be no where near enough to win this race, but with question marks over all the horses in the field Jeremy Scott will be hoping for another surprise win.
Further down the odds, contenders include Poniros, winner of the Triumph Hurdle here last year on his British debut, Ballyburn, who has shown good hurdles form after being switched back from fences, and Casheldale Lad, who caught the eye when finishing quickly behind Lossiemouth and Brighterdaysahead in the December Hurdle.