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One of the biggest events in horse racing, the Cheltenham Festival, starts next week followed by the famous Grand National in April. One man to have graced these events as a jockey and now as a racehorse trainer is Jonjo O'Neill. Extratime is at O'Neill's stables in Gloucestershire where he's preparing his top horses for Cheltenham.

How does he manage his relationship with one of the wealthiest owners in jump racing, JP McManus? And how is his sport coping with the effects of the global recession? John Hunt talks to Jonjo O'Neill.