The Caulfield and Melbourne Cup favourite Incentivise is out for the spring.
Managing part-owner Ozzie Kheir confirmed the news on Monday morning, claiming the long months of rehabilitation this year have taken a toll on the horse with trainer Peter Moody ruling the horse "mentally tired".
"We are disappointed but not devastated," Kheir said.
"Peter just said he thinks the horse is mentally tired despite it being the best the horse has ever looked.
"He looks stronger and bigger and his feet are 100 per cent but he (Moody) said he's just been through the ringer so for long that mentally, he won't get through a prep."