Skiing event in decline (8)
I believe the answer is:
I believe this is a triple definition!
'skiing' is the first definition.
(I know that downhill is a type of alpine skiing)
'event' is the second definition.
(downhill is a kind of event)
'in' is a link.
'decline' is the third definition.
(downhill is a kind of decline)
(Other definitions for downhill that I've seen before include "With the slope" , "How one skis" , "Sort of competitive skiing" , "race" , "coast here" .)