David Johnson (r) celebrates a winner with Timmy Murphy and Martin Pipe

Leading owner David Johnson believes 2009 will be a challenging year for the horse racing industry amid the current economic downturn.

Johnson, who owns Grand National winner Comply or Die, has reduced his number of horses from 100 to 65.

"I think a few trainers and owners will struggle over the next 12 months," he told BBC Radio 5 Live.

"Most trainers are losing horses and staff will lose jobs. It's just a sign of the times we live in."

Johnson has invested heavily in the sport for many years with most of his horses at the Martin Pipe yard, now run by Pipe's son, David.

But despite Comply or Die's victory at Aintree last April giving him probably his finest hour, the country's financial problems mean the former champion owner is assessing his input into the sport.

"The economics are that it is expensive to keep racehorses," he added. "I've had a lot of horses that needed time, and time has run out for them. I've tried to keep horses that have proven form and some that have shown a lot at home.

"Corporate hospitality has been reduced and recognised sponsors have cut back. There is less sponsorship and less prize money.

"I know quite a few owners have gone down the same route as myself in cutting back and I think it's inevitable that there will be less stable staff."

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