Champion jockey James McDonald has been left without a Melbourne Cup ride after dominant Cox Plate winner Via Sistina was ruled out of the race that stops the nation.

The Chris Waller-trained mare set a track record to win the Cox Plate last Saturday in a performance that led to her being ranked the No.1 horse in the world.

Via Sistina was immediately installed as Melbourne Cup favourite, with her odds slashed to $5 despite not being a confirmed starter at Flemington on the first Tuesday in November.

Connections took their time to assess their options and on Wednesday ruled the seven-year-old out of Cup contention.

The news was announced by owner Yulong Investments via social media on Wednesday morning.

“Via Sistina officially ranked the world’s number 1 racehorse! The Cox Plate has always been her main target, to win it is nothing short of a dream,” Yulong said in a statement on X.

“Following this peak performance and after much consideration, it has been decided she will not contest the 2024 Melbourne Cup.”

Via Sistina will now target the Group 1 Champions Stakes (2000m) at Flemington on November 9.

She is an odds-on favourite for that race, with McDonald expected to be handed the ride.

The $8 million Hong Kong Cup (2000m) in December is also on the radar.

Earlier this week, Waller said he and connections would take their time to consider long-term prospects for Via Sistina.

“She seems fine, but you never really know until a few more days or even in fact until they run, so we’re just trying to preserve her to ensure that (Cox Plate performance) wasn’t just a one-off,” Waller said on Tuesday.

“My job, as the coach, is to get her to win not just one race but many races and to advise the people that own the horse what’s in her best interest.”

Via Sistina was bought by Yulong for $5.5 million in December last year and has now amassed more than $6.7 million in career prize money.

McDonald claimed his 100th Group 1 triumph in the Cox Plate, winning the 2040m Moonee Valley test for the third consecutive year after success aboard Romantic Warrior and Anamoe.