The 2026 Queen Mother Champion Chase is shaping up as a deep, tactical two‑miler dominated by Majborough at the head of the market but with several credible challengers waiting to pounce if the favourite’s jumping cracks under pressure.

With Jonbon “in all probability” heading to Aintree instead, this year’s renewal could feel like a changing of the guard rather than a rematch of old scores.

The Champion Chase remains the purest speed test over fences at the Cheltenham Festival, run over two miles on the Old course where rhythm and accuracy matter as much as raw pace.

Red‑hot favourite Majborough heads a possible field of 13, with Marine Nationale out of the picture and a maximum of 12 set to oppose him after the latest confirmations.

That defection has simplified the betting but not the tactics, because several rivals prefer to stalk rather than force the pace, and the make‑up of the final field will decide who has to blink first on the front end.

With familiar names like Captain Guinness and Jonbon on the list alongside rising forces such as L’Eau Du Sud and Irish Panther, it has a nice blend of old warriors and newer faces.

The Front Of The Market

Majborough, from trainer Willie Mullins, is the clear focal point after a dominant display in the Dublin Chase, where he finally produced a clean round and turned a Grade 1 into a procession.

He has long looked a Champion Chase type – strong traveller, high cruising speed, and just enough quirkiness in his jumping to keep odds‑on backers from getting too comfortable.

His Arkle third place last year, when he recovered from a serious error four out, suggested the engine is not in doubt even if the technique sometimes is.

Il Etait Temps sits next in many lists, a talented performer who has mixed a Tingle Creek success with a heavy fall in the Clarence House at Ascot.

At his best he travels sweetly and can quicken, but he will need to brush up on his concentration to cope with a likely end‑to‑end gallop here.

L’Eau Du Sud, meanwhile, announced himself as a serious player when bolting up in the Shloer Chase over course and distance, having also run Majborough close in last season’s Arkle.

Quilixios is the interesting dark horse at slightly bigger prices, returning for the first time since falling at the last in this race 12 months ago when still in the argument.

If Henry de Bromhead has him back to that level, he is more than capable of hitting the frame again, though fitness on the day is a question that the market may only answer late.

Jonbon And The Aintree Question

The Jonbon subplot adds a layer of intrigue, even if the most likely outcome is that he is watching on from home rather than lining up on Wednesday.

Nicky Henderson has been open that “in all probability” Jonbon will skip Cheltenham and instead step up to three miles for the Aintree Bowl, having already proven his aptitude for intermediate trips in the Ascot Chase.

The complication comes from owner JP McManus and the Fact To File puzzle: if Fact To File goes for the Ryanair, Jonbon’s role in the spring may shift, but the current expectation is still that he misses the Festival.

Jonbon remains in the entries as insurance should anything befall Majborough, which is a polite trainer’s way of saying connections are hedging their bets until the last sensible minute.

For the race itself, punters almost have to handicap it twice – once with Jonbon, once without – even though the market is increasingly behaving as if he won’t be there.

Who Looks Most Likely To Win?

On all known evidence, Majborough is the most likely winner, combining peak‑level form, a course record, and current wellbeing.

If he gets into a smooth rhythm on the front end, his rivals might be running for place money fairly early, because his Dublin Chase performance suggested he can sustain pressure rather than just quicken off a crawl.

The flip side is that any early mistake could drag him back into the pack, and his sketchy leaps last season show that risk is not merely theoretical.

Il Etait Temps is the obvious one to capitalise if the favourite underperforms, particularly if the ground has a bit of cut and turns the race into more of a test of stamina at the trip.

L’Eau Du Sud’s course record, including that visually striking Shloer win, also marks him down as a very plausible winner if he can reproduce his Cheltenham form rather than his slightly flat Tingle Creek run.

For those looking beyond the top trio, Quilixios has unfinished business after last year’s fall, while Irish Panther is a lightly raced improver who has been kept in with this race in mind.

Place Prospects And Each‑way Angles

With Majborough odds‑on in many lists, the each‑way shape of the race is almost as interesting as the win market.

Horses like L’Eau Du Sud and Quilixios, both with Cheltenham form and enough tactical speed to hold a position, make obvious place candidates if the favourite does what the betting expects.

Irish Panther, still relatively unexposed in open Grade 1 company, is another who could sneak onto the podium if he continues his upward curve.

At bigger prices, battle‑hardened types such as Captain Guinness will likely run their usual honest race without quite landing a blow, while others like Only By Night and Solness may be playing for prize money rather than headlines.

Libberty Hunter, Saint Segal and Brookie look like tough, likeable performers who could pick up a late slice if the race turns messy, but they would need several of the big guns to misfire to feature strongly.

Looking At The Champion Chase

Strip away the various “ifs” – Jonbon’s plans, Fact To File’s target, the usual Cheltenham ground debates – and the Champion Chase still boils down to a simple question: can Majborough put it all together again on the biggest stage?

If he does, he probably wins; if he doesn’t, Il Etait Temps, L’Eau Du Sud and one or two lurking each‑way players will be ready to turn an odds‑on shot into a cautionary tale.

For neutral observers, that’s not a bad position to be in: either we see a star confirm his status, or we get another classic Cheltenham upset to talk about over the drive home.

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