Georgieland could well go for the Breeders' Cup Marathon at Santa Anita at the end of the season.
For the third year running, the eight-year-old was placed in Royal Ascot's Gold Cup, finding little after cruising for much of the race.
Perhaps, on the day, he would not have beaten Yeats regardless of how he was ridden.
"He's fine, he didn't have a very hard race. Obviously with the benefit of hindsight I wouldn't mind another go, but there you go," Osborne told PA.
"That's Ascot for another year. The plan now would be to leave the Goodwood Cup as an option and I think it's more likely we'll take him to York for the Lonsdale Cup, or later on we've got the Doncaster Cup.
"My favourite plan at the moment would be to go for the Lonsdale and then seriously consider the Breeders' Cup Marathon.
"We're not going to over-race this horse. I've always said that and if he were to have two more runs this year and they were properly targeted, that might be his season. In which case, I would hope we could get another year out of him."
Geordieland had run three weeks before the Gold Cup but Osbourne is not sure that this went against the grey.
"There is an argument to say three weeks just wasn't long enough for him between the Henry II and Ascot but we got no luck in running and it didn't go to plan.
"The Gold Cup was a great result for racing and for Yeats to do it again. Obviously from my point of view I didn't want to see that but it was wonderful.
"Whether or not we can ever win an Ascot Gold Cup is a debatable question but there are still plenty of good races we can still win with the horse."