LAST Saturday's late abandonment of Cheltenham's big-money meeting was not all bad news since Wincanton has managed to salvage the £40,000 HBLB Cotswold Chase.

Originally the field was headed by ante-post favourites Celestial Gold and Take The Stand, sadly both staying stars have declined to take up today's alternative engagement, although that won't worry Philip Hobbs, trainer of One Knight (3.00).

Such is the exuberance of One Knight's run-style, it'll be surprising if he doesn't set off at a blistering gallop in the hope of setting up an insurmountable lead.

These catch-me-if-you-can tactics have worked well for One Knight in the past, with the exception of his latest outing in the Welsh Grand National, when overhauled by L'Aventure at the second fence from the finish.

Even though headed, the bold-jumping grey was still booked for second spot until exiting courtesy of an uncharacteristically sloppy leap at the last, which resulted in horse and jockey ignominiously ending up on the deck.

The combination of a massive weight and marathon distance probably did for the selection, likely to find it a shade easier to dominate over today's shorter trip and less testing ground.

The earlier Dick Reynolds Novices' Handicap Chase features the 2002 Champion Hurdler, Hors La Loi III, who is well fancied to clinch the £20,000 event.

Injury cruelly kept Hors La Loi III (2.30) on the sidelines for nearly three years, yet he still managed to defy a 140-week absence to score on his chase debut over track and trip in December.

He then went to Newbury, where Dean Gallagher really did have the kid gloves on, giving the eleven-year-old an extremely kind ride to eventually occupy third spot behind the classy Irish raider, Justified.

To my way of thinking Gallagher completely overdid the sympathy act and it's good to see that Liam Heard, the exceptionally talented young conditional, has been called up to take his place.

Towcester's showpiece, the £8,000 Weatherbys Handicap Chase, affords Misty Future (3.10) the opportunity to make up for lost time.

Misty Future missed the whole of 2005 due to injury, however he's lost none of his old zip judged on his most recent superb second placing to Glacial Delight at Taunton.

Mark Johnston is beginning to unleash some of his untapped three-year-old talent, a comment particularly applicable to Airbound (2.20), a leading contender for Southwell's betdirect.co.uk Maiden Stakes.

Airbound, a pretty expensive $225,000 purchase, was nicely backed when third on his belated Lingfield debut, cash that strongly suggested the fabulously-bred half-brother to top sire Gone West could be very useful indeed.

David Barron's runners are mustard absolute on the fibresand, boding well for the prospects of Rafferty (3.50) in the £20,000 Littlewoods Conditions Stakes.

The Nigel Shields-owned gelding has never won over the six-furlong trip, though Rafferty has plenty of pace and once jockey Neil Callan lets out a bit of slack in the home straight, they could prove hard to peg back.

For the closing First Past The Post Handicap, Mission Affirmed (4.20) should not be left out of each-way calculations.

Tom Tate's five-year-old generally reserves his best for the Midlands venue, plus will get plenty of assistance from the incomparable Robert Winston, who is riding out of his skin at present.

* Both Wincanton and Towcester must pass early-morning inspections due to the current cold snap, while prospects for racing at Catterick on Friday are ''very slim'', according to clerk of the course Jonjo Sanderson.

The track has been subjected to temperatures as low as minus five in recent days and is currently frozen.

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