Hughie Morrison will put Not So Sleepy through a schooling session before committing the ante-post favourite to the Betfair Hurdle.
The eight-year-old, who would be chasing the sponsor's £100,000 Winter Bonus, could skip Saturday's valuable Newbury handicap and go straight to Cheltenham.
Morrison gave the son of Beat Hollow an entry in the Unibet Champion Hurdle after the handicapper hiked him up 17lb for an easy nine length triumph at Ascot in December.
That came in the Betfair Exchange Trophy, a win which put him line for the huge sum if he can follow-up.
But Morrison is tempted by a trip to The Festival for the 2015 winner of the Listed Dee Stakes.
"He has got to school well tomorrow otherwise we might not run him," said the trainer.
"We have always been a possible and a probable.
"Everything needs to be right. If there's any doubt we will wait for Cheltenham."
Not So Sleepy would carry 11st 2lb in Europe’s richest handicap hurdle, sporting the colours of Lady Blyth.
Morrison also had the favourite for the contest in 2002, when Marble Arch was pulled up under Norman Williamson.
He said the original plan for this year's contender was to continue on the Flat following his fourth in the Cesarewitch, when jockey Connor Beasley reported he ran too free.
"It's just one of those lucky things which happened (went hurdling), the November Handicap was off so rather than have a winter holiday which we felt he deserved, we decided to go to Ascot and one thing led to another," Morrison said.
"He probably showed his best there (on December 21).
"It was an impressive performance and he didn't have very much weight.
"We are full of enthusiasm but we are pretty realistic, it might not have been the greatest race.
"Time will tell."
Not So Sleepy is Betfair's 7/1 favourite for the weekend contest.
Evan Williams' lightly-raced Mack the Man, who is also chasing a hat-trick and the unexposed Never Adapt, trained by Nicky Henderson, are other leading fancies.
