CONSTITUTION Hill suffered another big drift in the markets after Nicky Henderson confirmed his blood test results were 'not what we're hoping for'.
The unbeaten superstar shocked his trainer with a dismal Kempton workout on Tuesday.
It was later confirmed he had significant mucus in his airways as Willie Mullins' State Man surged to favouritism for the Champion Hurdle.
Henderson was pinning his hopes on tomorrow's scope to shed more light on how his horse is feeling.
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But on Thursday he confirmed recent blood tests had highlighted bad news.
Henderson said in a statement: "The result of the blood test taken this morning goes quite a long way to explaining his disappointing performance at Kempton on Tuesday and confirms that he has a significant degree of inflammation.
"The figures themselves suggest he is definitely under the weather and we will need to repeat the test again on Monday in the hope that the situation improves.
"We intend to scope him again tomorrow morning but it appears that the blood test is a more conclusive barometer and the one we need to concentrate on.
"This is probably not what we were hoping for but at least it tells us exactly where we are."
Constitution Hill was out to a whopping 4.3 (100-30) on the Betfair Exchange.
While money came pouring in for Irish Champion Hurdler State Man, who was thrashed by Constitution Hill in the Cheltenham race last year.
Hendo told Sun Racing columnist Matt Chapman earlier today that he would not run the horse unless he was 100 per cent.
But this latest statement suggests the Michael Buckley-owned sensation is a long, long way below his best.
Henderson told Chappers: "If this was any normal horse then he wouldn't be running on Tuesday week.
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"You'd leave him alone and bring him back for something else.
"There is something else for him to aim at - but there's only one Champion Hurdle."
Asked by Chapman if he will consider running Constitution Hill if he is 90 per cent back to his old self, Hendo said: "No.
"You have to be 100 per cent for a race like that.
"People have said he's got so much in hand it won't matter⦠he hasn't got anything in hand!
"We all know the Champion Hurdle is going to be tough, these horses have to put an enormous amount in.
"He can't go in there half-cooked. Work-wise we've done all we need to do.
"We've got now to do another piece of work in the middle of next week - but that's only if everything is testing good."
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