JP McManus has purchased First Gold, the impressive winner of the King George VI Chase. He has also acquired First Gold's stable-companion, Baracouda, who won last month's Long Walk Hurdle at Ascot, in a private deal.

Although no purchase prices were announced, a chaser of First Gold's ability is likely to have cost over £500,000, while Baradouda would make at least half that price.

The pair, both previously owned by the Marquesa de Moratalla, will remain with their current trainer Francois Doumen in France.

McManus, who owns the top-rated hurdler Istabraq, has now acquired the leading chaser in First Gold, who is rated the best in Europe over fences after winning the King George by 10 lengths at Kempton at Christmas. The eight-year-old is hot favourite for the Cheltenham Gold Cup.

"I'm delighted to have had the opportunity to acquire such an exciting horse as First Gold," McManus told the Racing Post.

Doumen added: "I'm delighted to have JP as an owner - it's wonderful and I'm delighted the two horses will be staying with me. It will be good to have the Irish crowd behind me at Cheltenham!"

McManus's other hopes for the National Hunt Festival include Arkle Chase contenders Knife Edge and Triumph Hurdle candidate Pittsburgh Phil, whom he bought after his victory at Leopardstown on St Stephen's Day.