Trained by Nick Gaselee and ridden by Carl Llewellyn, Party Politics enjoyed his finest hour at Aintree when beating Romany King by two and a half lengths.

He had a good record in the world's most famous steeplechase, going ominously well in the void race 12 months later before finishing second to Royal Athlete in 1995.

He also fell at the third fence in 1996 in what was to be his final race.

The gelding was retired shortly afterwards to owner Patricia Thompson's Cheveley Park Stud in Newmarket, where he spent the rest of his days.

Party Politics won eight races and more than £250,000 (€289,278) in prize-money.

"We are very sad to lose Party Politics. He would not have enjoyed such a long and happy retirement without the TLC he received from the team at Cheveley Park Stud," said Mrs Thompson.

"We will always remember the excitement of Grand National Day in 1992 - and indeed his very creditable second in 1995 - as one of the major experiences of our racing ownership."

Bloodstock agent David Minton bought the horse for Mrs Thompson from owner-breeder David Stoddart three days before his big-race triumph.

"A gentle giant of a horse who loved Aintree where he never ran a bad race - one of the fairytale Grand National's winning in the year of the General Election," said Minton.

Llewellyn said: "He was a fantastic jumper of the National fences, and gave me one of the best days of my life.

"It was a real shame that he never got the chance to win back-to-back Grand Nationals, as he was going significantly better at The Chair in the 1993 void National than when he won it in 1992."

Cheveley Park Stud managing director Chris Richardson added: "He enjoyed a happy retirement at Cheveley Park Stud for 13 years during which time he made a number of public appearances, the last being prior to the 2008 Grand National."