Challow Hurdle winner The New Lion sold to JP McManus

The winner of the Challow Hurdle has been sold, just a week after sealing victory at Newbury Racecourse.

J. P. McManus will purchase the horse for an undisclosed fee.

The news comes after his previous owner, Darren Yates, announced his decision to leave racehorse ownership.

The six-year-old hurdler took an impressive victory over the Christmas period for Dan and Harry Skelton, finishing four and three-quarter lengths clear of Jamie Snowden’s Wendigo.

The New Lion won on all four starts for the Skeltons, and made his Grade One debut in ideal fashion.

It was Yates’ first notable success, having invested large sums in racehorses alongside his wife Annaley.

Yates said that the deal had been likely for some time, having gambled on the horse winning a grade one to maximise his value.

"At the start of the season, Annaley and I made a decision really that we were thinking of getting out of racing altogether,” he told Nick Luck’s Daily Podcast.

“One of the things I asked about was that Dan would carry on training and that Harry would carry on riding. JP, as a gentleman, said that wouldn't be a problem moving forward.

“By the end of the season I'll be out totally.

“The experience of the day is amazing and winning a Grade One was amazing, but they're very short-lived when you look at all the other things you have to put up with in racing.”

The New Lion is still expected to contest the Turners Novices' Hurdle at the Cheltenham Festival in March.

He is now the 9/4 favourite, although he will now compete in the legendary green and gold of McManus.