"He is not quite right and he is too good to take any risks with," says Hope, who trains the 6-year-old with his wife Nina.
"He has been nagged by something for a while and I think the knee we took the bone chips out of last season is still worrying him.
"And that is now making him off-load and hurt his other knee.
"Some people tell me he is fine and the vets say it isn't that bad but I am not going to risk him because I'd hate to make it worse.
"He is still only six and if we look after him I hope we can get him back.
"But basically the Cup carnival is gone and so, too, is the summer probably.
"What we will do next is look at some stem cell injections in that area and if that all goes well hopefully we could get him back for the Rowe Cup in May.
"But it is all a bit up in the air at the moment."
Monbet was crowned harness Horse of the Year last year but the bone chips saw him only race three times last season.
That trio of starts reminded racing fans why he may be our most talented trotter since Lyell Creek was after a fresh-up win in the Flying Mile he won both the NZ Free-For-All and Dominion in national record time.
He has not been seen in public since and trotting has been the worse for it.
For all Hope's optimism, Monbet's body has often struggled with the demands of his record-breaking motor and the fact he couldn't even make it back to the trials this campaign doesn't boost confidence we are going to see any sustained racing from him this season or maybe ever again.
The TAB got whiff of Monbet's problems two weeks ago and opened a market for the Dominion with him excluded from the betting and only re-opened their main market it with him in the futures betting yesterday. It is now closed again.
Last season's injury cost Monbet's connections a fortune as most of the group one trots Australasia-wide were won by horses who wouldn't live with a fully fit and sound Monbet.
That class void worsened when his arch rival Speeding Spur was injured twice, while trotting millionaire Stent is still making his way back from injury.
He continues that path at the Motukarara trials today.
While Ashburton face having no Monbet for their huge meeting next Monday they have left entries open after securing only six nominations for the Flying Stakes, including four from the All Stars.
NZ Cup favourites Lazarus and Heaven Rocks warm up for that race with a workout at Ashburton today.
Mo(a)nbet
• The champion trotter is sidelined for the summer and maybe the entire season.
• He hasn't raced for 11 months, since setting two national records in three days at NZ Cup week.
• He has raced 34 times for 23 wins and $770,714 in stakes.