The reigning Champion Hurdler and odds on favourite for this year's renewal at the Cheltenham Festival, Faugheen has been ruled out through injury.

The horse is reported to have a soreness in a suspensory ligament.

Trainer Willie Mullins said: "He was just a little bit sore after working and our vet confirmed he had a small suspensory. I just took a view that it was better to stop now and he'd be back for next year."

Bookmakers have reacted to the news by installing Faugheen's stablemate Annie Power as their new 2/1 favourite for the event.

The mare returned to action at Punchestown today when sauntering to victory in a three-runner contest.

She, like Faugheen, races in the Ricci silks. Annie Power is not currently entered for the Champion Hurdle but can be supplemented.