Hennessy Gold Cup winner State Of Play will not run in the Stan James King George VI Chase on St Stephen's Day.
Although the six-year-old, a flawless four-length winner of the Grade One heat at Newbury, satisfied Evan Williams in a full-scale workout on grass this morning, the Welsh handler felt the Kempton highlight could come too soon.
He said: 'Having watched him this morning, my inclination is to miss the King George and wait for either the Pillar Chase at Cheltenham or the AON Chase at Newbury.
'There was nothing wrong with the way he went, but I'm mindful of the fact that this horse is so much better when fresh and I feel Kempton will come a couple of weeks too quick after Newbury.
'In my heart of hearts, I know I'm doing the right thing.
'If I resist the obvious temptation to run, I can look forward to the rest of the season and hopefully a clear run to the Gold Cup, which is his main objective.
'He can then have a nice space between whichever trial we decide to go for and the Festival.'
