Minor in what sense? It’s still one of the largest in terms of industry revenue and viewership.
It's interesting to imagine football going that way. The college game would probably have to disappear. (which it should do anyway because institutions of learning should not concentrate most of their energies on frivolous contests between indentured servants) High school teams might be replaced by AAU teams run by shady coaches who could never be sued. I'm not sure where they would play, however. A football field is a big investment that is always going to be attached to some deep pockets. It's not clear that football could survive in the same way that boxing survives.