Owner Clive Smith believes a decision on the future of Kauto Star is likely to be made within the next couple of weeks.
The five-time King George winner and dual Cheltenham Gold Cup hero was pulled up with over a circuit to run in the blue riband at Prestbury Park in March, casting serious doubt over whether the 12-year-old would grace the racecourse again.
He has returned to light training after a summer break and a possible final appearance in the King George at Kempton on Boxing Day has been mooted, but Smith insists there has been no firm decision either way at this stage.
"He's fine but there's been no decision yet," said Smith.
"I've actually been away a bit so I'll talk to Paul (Nicholls, trainer) shortly and hopefully get somewhere pretty soon.
"He's just been cantering up the hill and is gradually getting fitter. If he is going to run again, then it won't be for three months, so there is no great rush.
"He's looking good and it's a long-term thing having spent the summer in the field.
"Hopefully we'll have a good idea of where we are in the next couple of weeks."