LOUISVILLE, Ky. (WDRB) — Iron Honor is out. Steve Asmussen is back in.

Leland Ackerley Racing's Chip Honcho moves into the Kentucky Derby field, giving Asmussen his 29th Kentucky Derby starter. No trainer has started more horses in the race without a win.

Chip Honcho has graded stakes credentials — he ran second in the Risen Star and third in the Louisiana Derby, the same race Emerging Market won — but has yet to find a jockey for the Derby. He galloped Tuesday morning under Roberto Howell during the special training window.

Chip Honcho and breezed five furlongs in 59.80 seconds at Churchill on Saturday. He's scheduled to work again this weekend, and Asmussen said the final decision on running will come after that. 

Louisville | Kentucky | Indiana | Eric Crawford

Iron Honor's connections have the Preakness as the target, trainer Chad Brown said Tuesday, with the six-week gap allowing time to address issues that surfaced in his last start.

Brown said jockey Manny Franco reported the Gotham Stakes winner got hit entering the first turn in the Wood Memorial, then spent the backside fighting his rider.

"He was fighting him and it kind of wore him out," Brown said. "Not the prep you need to run the Kentucky Derby, that's for sure."

Brown also had ruled out another contender, Blue Grass Stakes winner Ottinho, over the weekend.

Tuesday morning notes

But the New York-based trainer isn't without a strong Kentucky Derby shot. Undefeated Louisiana Derby winner Emerging Market made his first Churchill Downs appearance Tuesday, galloping a mile and a half for Brown after arriving from South Florida. Brown's early read: "He floated over the track."

The Puma, winner of the Tampa Bay Derby and runner-up in the Florida Derby, settled into Barn 42, Stall 10 — where Mage stabled three years ago before winning the Derby. Trainer Gustavo Delgado, who with his father sent out Mage in 2023, is looking for a second.

Brad Cox sent out his trio — Commandment, Fulleffort and Further Ado — all galloping as he monitors the weather forecast for their final works. "We'll gallop them a couple more days and have one more work," Cox said.

Incredibolt returned to Churchill for the first time since fall, logging a mile-and-a-half gallop for trainer Riley Mott. "He looked super out there," Mott said. Jockey Jaime Torres will ride Incredibolt in the Derby, choosing him over stablemate Albus. Torres, who won the 2024 Preakness aboard D. Wayne Lukas' Seize the Gray, cited Incredibolt's versatility as the deciding factor. "He can come from wherever I want," Torres said. "He can come from close or I can put him midpack, wherever I want. If we can get mid-pack, it would be perfect."

Japan's Danon Bourbon is en route with a mandatory quarantine stop before arriving in Louisville. Wonder Dean, also from Japan, was out Tuesday morning. Louisiana Derby runner-up Pavlovian ships in from Southern California, as does Santa Anita Derby winner So Happy, both expected Tuesday afternoon.

Chief Wallabee took an easy morning after a five-furlong work Saturday. Silent Tactic, Right to Party and Stark Contrast all logged routine activity as the barn area fills toward Derby week.

The field picture remains in some flux. Stark Contrast, currently 15th in Derby points, may bypass the race in favor of the Grade 1 American Turf on Derby Day, though trainer Michael McCarthy has not announced a final decision. If he exits, Intrepido — fourth in the Santa Anita Derby and currently 21st in points — could move into the field for trainer Jeff Mullins.

All Derby entries must be at Churchill Downs by 11 a.m. Saturday. The Derby Draw will be held at around 2:15 p.m. Saturday.

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