Willie Mullins admits it would be a "dream result" if Hurricane Fly can win the Stan James Champion Hurdle for a third time at the Cheltenham Festival on March 10.

Mullins also houses the red-hot favourite Faugheen and Arctic Fire but he makes no secret of the fact his loyalties are with the great 11-year-old, who has claimed more Grade One races than any other National Hunt horse.

"I'm a dyed-in-the-wool Hurricane Fly fan, so it's probably not fair to ask me what will happen," said the County Carlow handler.

"I'll be absolutely delighted if Hurricane Fly can do it this year - it would be my dream result for the whole of Cheltenham.

"Obviously Faugheen is the future, so if he can do it he would have the potential to win another Champion Hurdle, and that would be fantastic."

Faugheen has so far this season looked imperious, but the quality of horses he has been defeating has been called into question by some.

Mullins said: "Faugheen is doing everything right.

"Nigel Twiston-Davies (trainer of The New One has said, 'What has Faugheen beaten?', so I'm going to side with him (Twiston-Davies) for the time being!

"I thought he might go chasing this season, but when we analysed everything and looked at what he was doing and the fact that he hadn't been beaten, everyone was keener for him to go back hurdling and Vautour to go chasing.

"To have a potential champion hurdler in the yard is huge, rather than a horse going for the Arkle.

"We thought Vautour could possibly win an Arkle and possibly be a Gold Cup horse one day and we weren't as sure about Faugheen doing that.

"Hurricane Fly has done everything right and Arctic Fire is there in the wings, I think, improving all the time.

"Arctic Fire was done a short head in the County Hurdle last year and County Hurdle winners have come on and won it (Champion Hurdle)."

Mullins refused to speculate whether Ruby Walsh would snub Hurricane Fly at the Festival in favour of Faugheen.

He said: "I hope Arctic Fire, Hurricane Fly and Faugheen are all fit on the Tuesday and I hope Ruby (Walsh) is fit on the Sunday before the race to make the decision which horse he rides.

"In this game, horses get falls, riders get falls and I'm not going to say (what I would do) if I was Ruby.

"Probably what the bookmakers say is as near an indication as I get as to what's going to happen rider-wise, I would say."