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Connections of Tales Of Grimm are seeking a change in the weather to allow the colt to make his return to racecourse action.
The Newbury maiden winner was due to make his comeback in last month's Greenham Stakes at Newbury, but was ruled out on account of the rain-softened ground.
That defection led to Sir Michael Stoute ruling his charge out of the 2000 Guineas, and he will not be back on the track until the ground dries up.
Barry Simpson, racing manager for owner Sir Robert Ogden, said: "We're just desperately waiting for better ground with him - he won't run while the ground is soft. He's a superb-actioned horse and it's frustrating for us all that we can't get him on the track.
"I think quite rightly we made the decision not to run in the Greenham because of the ground and we decided not to go for the Guineas, either, as I think you need that experience going into big races."
Tales Of Grimm does hold an entry in the St James's Palace Stakes at Royal Ascot, but is likely to run in lesser company beforehand to find out if he is up to that level.
"There are conditions races at Newmarket and Sandown coming up for him and clearly he'd have to be pretty impressive in those to take up a Royal Ascot engagement," said Simpson.
"It's a speculative entry at this stage, but we think a lot of him."