NEW YORK—The tumult in the U.S. economy finally is starting to affect an industry that has enjoyed years of growth: major league sports.

The NBA is laying off employees. Major League Baseball attendance has dropped after four straight record years. The NFL says revenue is under pressure.

While the symptoms are relatively mild so far, the latest developments say something about how far financial woe has spread in a nation where the appetite for sports seems ever-expanding.

“I used to come to maybe eight or 10 games a year, but this year it was only four games...

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