Brilliant over the last three seasons, which have seen him collect a Cheltenham Gold Cup and two King Georges, the now eight-year-old produced the most miserable performance of his career when tailed off on his comeback in the Charlie Hall at Wetherby.
Long Run is trained by Nicky Henderson and owned by Waley-Cohen’s father, Robert.
The amateur rider told Racing UK: “We’re going to keep an eye on him on a day-to-day basis.
“If he’s fit and well and Nicky’s happy with him we might still go there (Betfair Chase), but we’ve got to wait until he’s ready.
“It’s very hard to say (what happened at Wetherby). We’ve had mistakes at fences before but he’s got away with it and recovered.
“We were incredibly disappointed. There’s been nothing in his history before or since to suggest there’s any underlying problem of any sort.
“We don’t subscribe to the theory that he is not the horse he was before.”