 The race is restricted to four-year-old horses only and is usually contested by horses who go on to run in the Triumph Hurdle at the Cheltenham Festival.The race was first run in 1994 as a Listed event, replacing the Le Coq Hardi Hurdle, a Grade 3 all-aged 2 mile Novice Hurdle.It was raised to Grade 3 in 1995, to Grade 2 in 2003 and has been a Grade 1 event since 2010.