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THE SPORTS MUSEUM OF AMERICA, one of the newest cultural venues in the city, opened to fanfare eight months ago. But hugely disappointing attendance and the economic downturn have forced the museum to lay off staff, slash its admission price and plan an aggressive marketing strategy to get people in the door.
Attendance at the museum, which opened in lower Manhattan in May, has been a staggering 60% less than anticipated.
That's led to a litany of woes. In September, the museum defaulted on the $57 million of Liberty Bonds that funded more...