English trainer David Murray Smith today became the latest man to cry 'enough' in the struggle to make training pay.
The 46-year-old, who moved from Lambourn to Gumley in Leicestershire in May 1997, will not renew his current licence when it expires at the end of January.
It will bring an end to a 17-year career during which he became the first British trainer in over 50 years to win the Irish Grand National, and also enjoyed success at Royal Ascot and the Cheltenham Festival.
'Basically, the reason I am finishing is that it is costing me too much money and I do not have enough horses,' Murray Smith said.
'Each year you go and borrow a bit more from the bank hoping you will attract fresh owners or find a good horse but the level of prize-money isn`t enough to cover the overheads involved.
'We told the owners three or four weeks ago and while it would be more straightforward to finish immediately, we will gradually wind it down in their interests.'
He added: 'I`ve probably thought about doing this for each of the last five years!'
'The costs are allied to the problem of getting and keeping good staff. I know a few smaller stables only manage to keep going because they have members of the family who are the right weight and can ride out. Also, it is very much a business of being in fashion.'
Murray Smith started his career working alongside such peers of the profession as Dick Hern and Vincent O`Brien.
Career highlights include Rhyme`N`Reason`s 1985 success in the Irish Grand National, Aquilifer`s victory in the Ritz Club Chase at the Cheltenham Festival in 1988.
On the Flat, his Amigo Menor was successful in the 1991 Wokingham Handicap at Royal Ascot before landing a Group Three contest at Leopardstown three weeks later.
Murray Smith said: 'Training is a very difficult game to make pay, although I`ve no complaints.
'I shall probably still be having the odd runner into the New Year, although I am now down to about half a dozen horses.
'Kara Sea is going to stud in February and she will probably be kept going until the end of January and be our last runner although I would be looking to run Saif Majrour again and would even consider taking out a permit for him.
'He won a bumper at Worcester and will improve again although he will be a better horse next year.'
Waterberg, another well-regarded bumper winner trained by Murray Smith last season, has already been moved to Henry Daly`s yard.
Looking to the future Murray Smith added: 'I haven`t completely decided what to do next but I have one or two broodmares and would look at becoming involved with some buying and selling.
'But it is a case of stemming the flow of cash going out first, before taking the next step.'
