
There is no doubting the ability of Nicky Henderson’s stable of horses, though there is one that stands out for altogether different reasons. We’ve seen odds-on favourites who looked certainties to win, go down; Constitution Hill in particular last year in what was one of the most dramatic Champion Hurdle races in the festival’s history.
However, arguably the biggest frustration in recent years for the British trainer is surely Jonbon, who now has four consecutive second-placed finishes, between 2022 and 2026 (not racing in 2024 due to stable health issues).
These have come in the 2022 Supreme Novices’ Hurdle, 2023 Arkle Challenge Trophy, the 2025 Queen Mother Champion Chase and most recently, the Ryanair Chase today, going out as favourite following the withdrawal of odds-on chance Fact To File, who was withdrawn due to the ground.
This time around though, was arguably the horse’s best chance to win at the festival, especially given his 12 Grade 1 wins. He has never finished outside of the top two out of 28 occasions, winning 20 races and coming second in 8 others, four of which were at the Festival. He has won two races at Cheltenham but not at the Festival itself. That gives him a strike rate of 25% at Cheltenham vs 90% at all other courses.
Jonbon’s Missed Chances

Over the years, he has had mixed luck at Cheltenham; indeed, in 2023, he didn’t actually run badly, but met a superior and in-form, El Fabiolo – a powerhouse who had the measure of him on the day.
A year previously, he was actually beaten by the aforementioned and stablemate Constitution Hill, who set a course record; Henderson famously said at the time: “I’d be surprised if anything could have done that to Jonbon.”
Meanwhile, last year, his poor start and a jumping error at a crucial fence cost him, though he was still able to rally to a second-place finish.
This time around, which will arguably go down as the ultimate “heartbreaker”, all the signs pointed to the fact that it could have finally been his year, after prominent Irish trainer Willie Mullins and owner JP McManus decided to pull Fact To File out of the race, due to concerns over the ground being too fast for him.
It left Jonbon as the new pre-race favourite and the betting markets shifted considerably. Jonbon travelled well under the guidance of Nico de Boinville, having set an early rhythm, positioning himself well and tracking the pace-setters.
However, heading up the hill, it was 9/2 shot Heart Wood under jockey Darragh O’Keefe, who found an extra gear and while Jonbon battled back, he was simply no match for the winner who won by a considerable stretch.
Last Chance Saloon Next Year?

Barring anything major, it is likely the horse will be entered next year, though the biggest concern for Henderson is that he will be aged 11 and his chances will be slim.
However, it has been done at the festival, especially by top horses in supreme condition.
Jonbon knows the track, has the experience and this could finally pay off after four successive second-places, making him arguably the best second