You won't be surprised to learn Noble Yeats flies out of the traps.

Asterion Forlonge takes over after a few flights.

There looked to be a possibility of a second start, but the officials are happy and away we go.

Is it cold in here or is it just the excitement? The goosebumps are flexing as the field trots into position.

Noble Yeats, a little livewire, is not playing ball for Harry Cobden.

Everyone else looks set.

Image source, Getty Images

The young legs of Teahupoo were not enough to outrun the old heads last year.

But a year wiser, Gordon Elliott's seven-year-old is heading the market and is one of the most backed horses today.

Teahupoo was beaten by three-quarters of a length last year and has returned to action this season in good form, winning the Hatton's Grace Hurdle at Fairyhouse in December.

He has not run since then and is expected to benefit that as he is proven to gowell after a brief break.

"We deliberately kept him fresh for this after the Hatton's Grace and didn't go to Leopardstown at Christmas," said Elliott.

"Conditions will suit and I have nothing to report but positives."

Dual winner Flooring Porter claimed this race in both 2021 and 2022 before finishing fourth last year.

The nine-year-old has switched back to hurdles after competing over fences in the first part of the season, but trainer Gavin Cromwell does not believe that will be an issue.

"He's in good shape and we're looking forward to it. I hope the ground dries out a little bit, I hope it's not too deep, so we'll see what happens," he said.

"He's had a few schooling sessions over hurdles and they've gone well, he's a very intelligent horse so I don't see switching from fences being a problem."

Paisley Park trainer Emma Lavelle, speaking to ITV Sport: "He has taken us on a rollercoaster of emotions this season. It'll be a Herculean effort for him to win this today but he has always written his own scripts."

Frank Keogh
BBC Sport at Cheltenham

Image source, Getty Images

There would be few more popular winners all week than Paisley Park if he could regain the Stayers' Hurdle crown he won at Cheltenham in 2019.

The veteran racehorse has won admirers for his consistency and longevity - this will be his sixth run in a race where his record reads 17337.

Named after the late singer Prince's home and recording studio, he is owned by Andrew Gemmell, who has been blind since birth.

Gemmell, a huge music and sports fan, relies on radio commentaries and racecourse tannoys for updates, and gleefully shook his white stick when Paisley Park won- five years ago.

The West Ham supporter is often accompanied by his friend Tom Friel, landlord of the Black Lion pub in Plaistow, once the haunt of Hammers and England legend Bobby Moore.

• Archive: More on the Paisley Park story here

Image source, Getty Images

There are plenty of familiar rivals for the day three feature race. Last year’s winner Sire Du Berlais is back again but at 12, his age could work against him.

We also have the two-time winner Flooring Porter and the ever-popular 2019 champion Paisley Park, who is in this for the sixth time, both lining up hoping to regain their title.

But they will all be wary of the Gordon Elliott-trained Teahupoo, who was third past the post last year and aged only seven has just had one run this year – a win at Fairyhouse so will be fresh.

Forget the bar, never the mind the loo, almost everyone at Cheltenham is back outside.

It's the big one!

A host of veterans are aiming to hold off the young guns and enjoy one last hurrah...

Image source, Getty Images

Three down, four to go!

It's the big one of the day next....

13:30: Turners Novices' Chase (Grade 1) - GREY DAWNING

14:10: Pertemps Network Final Handicap Hurdle (Premier Handicap) - MONMIRAL

14:50: Ryanair Chase (Grade 1) - PROTEKTORAT

15:30: Paddy Power Stayers' Hurdle (Grade 1) - 12 runners

16:10: TrustATrader Plate Handicap Chase - 22 runners

16:50: Ryanair Mares' Novices' Hurdle (Grade 2) - nine runners

17:30: Fulke Walwyn Kim Muir Challenge Cup Amateur Jockeys' Handicap Chase - 24 runners

You can see all the runners and riders on our Cheltenham racecards

Before the day's racing, trainer Willie Mullins was presented with a framed gift by the Princess Royal to mark his achievement of 100 Festival winners.

Image source, PA Media

You know who is, of course, Willie Mullins.

Everyone in the industry talks, quite rightly, about how hard it is to win a race at Cheltenham. Mullins has made it look relatively easy.

Yesterday there was a moment of Festival history - a feat which may never be topped - when the Irishman claimed his 100th winner as his son Patrick won the Champion Bumper on Jasmin De Vaux.

Mullins is the first person to post a century of wins at the Festival and the 67-year-old is way out on his own at the top of the list, with Nicky Henderson his nearest challenger on 73 wins.

Mullins' first big Cheltenham triumph came with Tourist Attraction in 1995, and he is almost certain to be the week's leading trainer for the 11th time in the last 14 years.

"Whoever dreamt any trainer, never mind me, could do it," said a delighted Mullins after securing his sixth victory of the 2024 Festival.

• Much more on Mullins here

Image source, Getty Images

So, Dan Skelton's second winner of the day means no victories (yet) for you know who...

Let's hear from Sir Alex Ferguson, who is a part owner of the past two Cheltenham winners...

"I've been waiting 20 years for a winner and now I've had two in about 40 minutes," smiled the footballing icon as he spoke to ITV after Protektorat followed Monmiral in victories.

"It's incredible. It's the FA Cup final, Derby then it's Cheltenham. Is winning the Champions League or Cheltenham a better feeling? This is much better - now."

Image source, PA Media

Fergie and Harry are joined by Big Sam at Cheltenham this afternoon. There's some footballing knowledge in that trio. And, evidently, they know their horses too!

Izzy Algieri rides Protektorat every day at the Skeltons' yard and her work was highlighted by Harry Skelton as key to the success.

"He is mad!" she tells ITV Racing.

"As soon as he gets on the gallop he comes alive. He's keen, he's awkward, he pulls.

"But I love him so much. It's amazing, we've had an incredible week."

Charlie Poste
Former jump jockey on BBC Radio 5 Sports Extra

What is notable is that the Skeltons have been building steadily to get them to the top of the tree.

Four winners and counting at this year's Festival shows they are nearly there as genuine championship contenders

Winning jockey Harry Skelton: "It's fantastic. I can't believe it.

"He's as mad as a wasp. Izzy [Algieri] rides him every day and has the patience of a saint. He's so difficult at home, he's difficult in a race.

"But it was first time in a long time he has settled. I knew he was in a good rhythm, I winged the third last and I sat on him till he straightened up. He was tough.

"He really deserves it this horse, he has knocked on the door in the big races and now got day in the sun.

"What Izzy puts up with every day is unbelievable. He pulls her arms out on the gallops. We needed someone with patience and Izzy has it - a lot of the credit goes to her."

Charlie Poste
Former jump jockey on BBC Radio 5 Sports Extra

It is dreamland for the Skeltons. This win could move Dan ahead of Paul Nicholls ahead in the trainers championship, which is huge.

Protektorat has always been a strong traveller but Dan said let's bring him back in trip and it has paid off.

This is a Festival of dreams for the Skeltons and there could be more to come.

1 Protektorat (Harry Skelton) 17-2

2 Envoi Allen (Rachael Blackmore) 9-4 Fav

3 Conflated (J W Kennedy) 11-1

11 ran