CHELTENHAM with all its unforgettable triumphs and crushing setbacks can surely never have had a more heartbreaking climax than the one on Saturday which saw Grand National hero Many Clouds wear down new kid on the block Thistlecrack in the Cotswold Chase, only to collapse and die almost immediately afterwards. (The autopsy revealed cause of death as “severe pulmonary haemorrhage.”)

The announcement left a disbelieving army of jumping enthusiasts stunned and silent.

The Grade 2 Betbright Trial was meant to be Thistlecrack’s final, possibly effortless step on the way to Gold Cup glory.

He may yet prevail, but his principal rival, an old streetfighter if ever there was one, gave Leighton Aspell every last ounce in a pulsating finish, forcing his head in front a few yards from the line and gained the day.

The others, led home by Smad Place, were beaten too far to have any chance next month. On a day when prices about the favourites were almost frighteningly short, bookmakers possibly sensed a result in offering Thistlecrack at 4/9. If everything said and written about him had been entirely valid, he would have started at around 1/3.

The plain truth is that Thistlecrack is still a novice. He travelled well enough for Tom Scudamore but, when Many Clouds (8/1) led four out, Thistlecrack needed a good jump at the next but pecked slightly.

This followed a stumble at the ninth and, although he was nimble enough to avoid disaster, they were the kind of mistakes to raise doubts about his credibility as an odds-on Gold Cup favourite.

He certainly lacks nothing when the chips are down and stayed level with Many Clouds late in the piece, even looking the likelier winner as the pair set off up the hill, but the Aintree warrior, only a year older at 10, would not be denied.

Oliver Sherwood, whose return to the front rank of trainers owes plenty to last week’s fallen hero, spoke bravely after giving way to tears at the scene.

“A horse like that is a complete dream,” he said. “I’ve been in the game 32 years and they don’t come along very often. He was a horse of a lifetime; he was beaten at the last and fought back in the last 50 yards to win.

“It’s sad for Trevor Hemmings, sad for head man Stefan, sad for my travelling head girl Lisa and everyone at Rhonehurst.

“But it happens and we’ll all go one day. You just have to be philosophical about it and enjoy moments like the Hennessy and the National.”

Thistlecrack’s trainer Colin Tizzard was among those to offer immediate sympathy. “We were beaten by a better horse on the day, no question,” he admitted.

“Poor old Many Clouds. He’s a fantastic, lovely horse and it’s as sad as can be. Thistlecrack has still run a beautiful race and that might be some of the best form we see this season.”

Aspell, twice a winner of the Aintree marathon as well as the Hennessy, had Many Clouds buckle beneath him and succumb to what seemed to be a massive heart attack just after the finish.

“It was very distressing,” he said.

“Despite the big wins I was at my happiest for the 30 or 40 seconds immediately after the race. “During that time he seemed absolutely fine but then he took a turn for the worse. But his performance was a career best and highlighted all his qualities - jumping, staying and guts.”

This was Thistlecrack’s first defeat over fences and the layers eased him out to 2/1 for the Gold Cup.

Although that seems short enough, two of the next three in the betting, Native River and Cue Card, are also trained by Tizzard and most at his Dorset yard would expect Thistlecrack to account for the pair.

Djakadam can be backed at 8/1 but after those four there is no problem in locating 12/1 or bigger about anything else.