The grey is a decent bet at around 5-1 to underline his potential in the King George VI Chase on Boxing Day

There have been many renewals of the King George VI Chase in recent years which revolved around a clear market leader but there is no obvious starting point for weighing up this year’s race at Kempton on Thursday, as nine of the 11 runners already have at least one Grade One victory over fences to their name and at least four – Spillane’s Tower, Banbridge, Grey Dawning and Il Est Francais – could conceivably set off as favourite.

There are also slight question marks over all four of the principals in the betting. Banbridge is unproven at the three-mile trip, Il Est Francais ran poorly after bursting a blood vessel last time out, Spillane’s Tower has shown his best form with more cut in the ground and Grey Dawning had a tough race in the Betfair Chase in November.