Even though things were setting up nicely for a possible Triple Crown winner, the horse favored to win the Belmont Stakes will not be racing as I'll Have Another, the winner of the 2012 Kentucky Derby and Preakness Stakes, has officially been scratched from Saturday's race, according to trainer Doug O'Neill.

In an interview on the Dan Patrick Show on Friday, O'Neill reiterated that the horse is being removed for precautionary reasons.

O'Neill said, "We ain't taking any chances," and that the scratch "is a bummer, but far from tragic."

O'Neill also suggested that I'll Have Another has run his last race.

There were rumors of an injury before the announcement, but O'Neill did not mention anything specific in that regard. An official press conference has been scheduled for 1 p.m. ET to announce the decision.

For more on the Belmont Stakes and the race for the Triple Crown check out SB Nation's horse racing blog And Down The Stretch They Come.