Top Cees has been taken to the veterinary school of Liverpool University where hopes are high that he can make a recovery after breaking down badly in Wednesday's Tote Chester Cup.
Ironically, the injury occurred in a race which had provided two of the 10-year-old's greatest triumphs when winning the contest in 1995 and 1997.
Trainer Ian Balding revealed today: "He was driven up to Liverpool last night and I think it looks ok to save him although obviously his racing career is over.
"Both suspensorys on the near-fore were badly damaged and he will be in plaster for some time but at least he should be able to enjoy his retirement."
Balding's son Andrew, who visited Top Cees at the hospital this morning, was equally upbeat.
"He had a comfortable night and touch wood, there are no complications," he revealed.
"The only worry now is that as he's taking all the weight on the leg because of the splint on his near-fore, he could develop a problem with that leg.
"But all being well and if he continues to make good progress he could be home in about 10 to 14 days.
"I am hugely relieved and it was particularly good to see him looking very happy, surrounded by four female nurses and being the centre of all the attention."
Top Cees sparked off one of the most sensational racing stories of the last decade when winning the historic handicap for the first time in 1995.
Kieren Fallon, Lynda Ramsden, the horse's trainer at the time, and her husband Jack were upset at an article in The Sporting Life suggesting that the horse had not been ridden to win in his previous race.
The trio successfully sued The Sporting Life for libel and won substantial damages at the High Court in London.
The gelding joined the Baldings' stable upon the Ramsdens' retirement from training in 1998.
