If Faugheen comes back, they won't see which way he went in the Champion Hurdle, but seeing as we're playing conspiracy-theories.....
Nichols Canyon is a multiple G1 winner at 2m, has beaten Faugheen already, came out of the Champion Hurdle a better horse than Annie Power at the weights, and has just hacked-up in the Morgiana. I'm as guilty as anyone of this, but he is generally over-looked as a bit of a 'meh' horse, but that's almost certainly unfair, and a lot to do with him being self-evidently inferior to Faugheen. But in Faugheen's absence, he has better Champion Hurdle credentials than almost any other horse in training, and there is a danger of looking past the most obvious alternative in favour of more exotic (dare I say, quixotic) options like Yorkhill, Min and others.
Nichols Canyon is generally a 20/1 chance right now (33/1 with Red32), but is hovering around the 50/1 mark on the Exchange. I think that is an absolute knock-out price for a horse with the right profile for the race, and is significantly better value than Yorkhill, who I reckon would need it bottomless to have any chance in a Champion Hurdle. Taking treble-figure-prices about Min is fair-enough, but I do think he needs to tank in his novice chase, for that to be an active-runner.