The son of Frankel was 3/1 with Sky Bet in their Prix de l'Arc de Triomphe market, for which they have been 'Non Runner No Bet' since the morning of September 11.
With British Champions Day at Ascot now under consideration the impressive Great Voltigeur winner is now the 7/2 favourite for the Champion Stakes, even though he would be dropping back in trip to 10 furlongs.
Connections have repeatedly insisted that a return to France for Europe's premier middle-distance prize was unlikely and with the race now just a week away, he has been confirmed a non-runner.
Owner Anthony Oppenheimer said: "I think it had a lot to do with Chantilly itself. A lot depends on the size of the field.
"If it was at Longchamp, where the track is wider and the bends are not as tight, it may have been an easier decision."
The John Gosden-trained colt dominated his rivals in last month's Voltigeur and was just as impressive in the Prix Niel over the Arc course and distance a fortnight ago.
Cracksman still has the option of running again as a three-year-old in the Qipco Champion Stakes at Ascot on October 21, but is far from certain to line up.
Oppenheimer said: "The horse is well, which is the main thing.
"He is in the Champion Stakes, which personally I would say is equally unlikely as the Arc, but that is still four weeks away.
"I haven't been down to Newmarket for a little while, but if the horse was bouncing out of his skin and let us say the ground came up heavy to soft and it blunted the speed of some of those mile-and-a-quarter horses, there could be some merit in it.
"He is a fresh horse, but I would say the Champion Stakes is a backstop as we've always said we wanted to run him in a four-year-old and we want him to be fresh for that."
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