Wow, that's quite an astounding number. Can we read your source for that information? Thanks.
https://en.wikipedia.org/wiki/Personal_finances_of_professional_American_athletes
Here is the top part...
The personal finances of professional American athletes is a subject of widespread discussion due to the often high salaries of such athletes and the high rates of personal bankruptcy and other financial distress.
According to a 2009 Sports Illustrated article, 78% of National Football League (NFL) players are either bankrupt or are under financial stress within two years of retirement and an estimated 60% of National Basketball Association players go bankrupt within five years after leaving their sport.[1] Originally the statement “60% of NBA players go bankrupt within five years after leaving their sport” was released by a representative of the NBA Players’ Association in 2008 [2][3] A Fortune magazine article states, however, that a working paper from the National Bureau of Economic Research found that the percentage of NFL players who go bankrupt after two years is a much smaller 1.9%, climbing to 15.7% after 12 years.[4]