Charlie Swan has admitted that he would have needed some very wealthy backers and 40 or 50 horses to justify staying in the training business.
Swan, who retired from the saddle in 2003 having won three Champion Hurdles at Cheltenham on Istabraq, saw Offshore Account and One Cool Cookie win Grade Ones for his Cloughjordan yard, at Punchestown and Fairyhouse respectively.
But the training industry was proving too difficult for Swan, who felt that it did not make business sense to continue.
Speaking to RTÉ Sport, Swan said: “It’s been very difficult but like every business, if it’s not profitable, you have to draw the line somewhere.
"It’s the Sport of Kings, so you have to have the big owners, the wealthy men backing you."
“The overheads are so high. If you don’t have top horses, and plenty of them, it’s very hard to survive in the game.
“There are a lot of injuries in National Hunt racing, horses can be out for a year, it can be frustrating.
“I trained lots of big winners in the past but in the last few years, I haven’t had the horses and I haven’t had the luck.”
Swan has not fallen out of love with the industry and will move into bloodstock but the former champion jockey acknowledged that there is good reason as to why the sport is always considered a rich man’s game.
“It’s a fantastic game and I still love it,” added Swan. “But it’s the Sport of Kings, so you have to have the big owners, the wealthy men backing you. And I had some really good owners, some great people behind me but unfortunately, to run my establishment, I probably needed 40 or 50 horses really.”
“The HRI are doing well but if you look at their figures, owners have fallen six per cent and entries have fallen 12 per cent.
“It’s not easy for trainers, it’s a tough game. You’re up early in the morning and if you’re not getting the winners and the results, you don’t get the horses.
“It’s a business for me and you have to provide for your family and it’s like everything, If you’re not making money, no matter how much you love it, you can’t continue unless you’re getting paid.”
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