how will the credit crisis affect sports

these days its all about financial doom and gloom thanks to the credit crunch, people are loosing their homes, their jobs and everything worth loosing. Those that aren't loosing have seem costs of everything go up, mortgages, credit card interest rates etc, as a result according to breadmarket people are leaving out the more luxurious activities in order to save some money. If the economy doesn't improve soon, will we start to see a decrease in attendance at sports events? If that happens will we then see players take a paycut?