Texas Red was among the early favorites for this year's Derby after his Breeders' Cup triumph but has been plagued by foot problems since his only start this season when a neck second behind Lord Nelson in the G2 San Vicente Stakes.

Following a month of recuperation from a foot abscess and aqua therapy, Texas Red worked easily last Saturday at Santa Anita.

Part-owner Erich Brehm said, "We do not have adequate time to prepare Texas Red for a prep race that he would need to get in condition for, and attain adequate points for, a Derby start.

“We look forward to bringing him back to the races when he is ready to compete again at the highest levels."

Trained by Kent Desormeaux, Texas Red won the BC Juvenile by powering from the back of the pack and scoring by 6 1/2 lengths.

Last year he broke his maiden at Del Mar and ran third behind 2YO champion male American Pharoah in the G1 Frontrunner Stakes before wining the Juvenile at Santa Anita.

Meanwhile American Pharaoh came out of his commanding 6 1/4-length victory in last Saturday’s G2 Rebel Stakes at Oaklawn Park in perfect order, reported trainer Bob Baffert.

The Hall of Fame conditioner said the next race for the star colt could be back at his Santa Anita Park home base in the G1 Santa Anita Derby on April 4 or a return to Oaklawn for the G1 Arkansas Derby on April 11.

Both races are Key Kentucky Derby preps and each are worth $1 million.

"We'll see how he's doing. We've got lots of options,” Baffert said.

The Santa Anita Derby would most likely feature his undefeated stablemate Dortmund.