The New One is out for the season with a spinal issue and will not defend his Aintree Hurdle title next month.
Third in last season's Champion Hurdle, the horse was fifth in this year's contest behind winner Faugheen.
"He's got a 'kissing spine' but he'll be OK in time. He won't need an operation but we'll give him a break," said trainer Nigel Twiston-Davies.
A kissing spine effectively sees bones rubbing together, can cause pain and seriously affect a horse's performance.
Faugheen's trainer Willie Mullins saddled a historic 1-2-3 in the Champion Hurdle at Cheltenham earlier in March.
He intends to enter the trio, completed by Arctic Fire and Hurricane Fly, in the Aintree Hurdle on 9 April, the opening day of the Grand National meeting.
Mullins also has Mares' Hurdle faller Annie Power as a potential contender, although it is thought only one or two of his quarter are likely to line up on the day.