Many Clouds could run in the Betfair Denman Chase at Newbury rather than the Cotswold Chase at Cheltenham.
Trainer Oliver Sherwood is understandably not too keen to tackle effortless King George VI Chase winner and Gold Cup favourite Thistlecrack at this stage of the season.
With the Randox Health Grand National once again his major aim, Sherwood would rather take the easier option with the 2015 Aintree hero.
"Clouds is fine, we were going to go to the Lexus but decided to miss it and he's back in full work now," said Sherwood.
"He'll get an entry in the Cotswold at Cheltenham, but I'm not that mad about having to take on Thistlecrack so if he doesn't go there he'll run in the Denman at Newbury.
"After that he'll go to Kelso in March and then on to Aintree, like last year."