Leading trainer John Gosden says the racing industry may only feel the full impact of the current crisis in five years time.
Royal Ascot gets underway this week without spectators but Gosden, who has trained over 100 Group 1 winners over a long career, says its unrealistic to expect that the industry won't be damaged by the Covid-19 disruption.
Speaking on Game On on RTÉ 2fm, Gosden bluntly admitted that the industry was likely to shrink somewhat in the coming years as it copes with the after-effects of the 2020 season.
"It's like any industry. No matter what one you're in, a lot of them are going to be shrinking. There's going to be problems for many people, particularly those that might lose their job and not get it back again. Anything we can do within our industry to give it strength and fortitude and bring it forward is our duty.
"The fact that your authorities and our authorities have got racing moving again - I felt June 1st was getting down to D-Day. After that, we were in trouble in many ways, not for the whole season but for the whole breed, and for the livelihoods of many people.
"I think if you feel you're not going to be affected by it, you're not being realistic. There's no doubt that owners are going to come under a lot of pressure, many trainers likewise.
"I suppose we're going to look at a shrinkage of the business over time. At the moment, there are those horses on the ground, be the foals, yearlings and those racing. It's probably only five years down the line that we'll see the full impact of this. Right now, we've just got to buckle down and do the best we can."
Royal Ascot, it was reported this week, is reliant on gate receipts for 70% of its revenue and given that the venue is one of the more illustrious in the UK, it sparked fears for other smaller racecourses which may not so easily cope with the absence of spectators.
Gosden, for his part, predicts that some racecourses will not be able to survive.
"Sadly, I think it will be inevitable. You have the small independents (race courses), it's a terrible struggle for them, I fear for them. The bigger groups have critical mass which makes it different.
"It's also doubtful whether you will in a number of years time have sufficient horse population, particularly in the UK, to fill all levels of racing. It will be a problem."
