Regal Guest

What makes this particularly difficult to spin positively is that Regal Guest has been competing at Class 5 — the lower end of the racing ladder, where the competition is at its most accessible. Three of those runs have come at this level, and it has yet to trouble the judge in any of them. When a horse struggles at the softer end of the draw, it raises genuine questions about whether a breakthrough is coming.

Regal Guest is trained by George Margarson at Newmarket, one of British racing's most famous training centres. Margarson's yard has sent out 11 winners so far this season, so there is clearly ability within the stable. The horse ran just yesterday and remains in active training, which at least suggests the yard — the trainer and team — still believe there is something to work with. Whether that faith is rewarded remains to be seen.