This is exactly why there are disparities in wealth between individuals.
Pro athletes need to know that the big money and their careers won’t last forever. They really need good financial advice. It’s hard to believe that somebody could go through millions like that.
Just as all these players have an agent, they also need a financial person, someone who is not a yes man, to manage their money.
It has been speculated that if all the world’s wealth were suddenly redistributed equally to all people, within one generation it would be back to where it was, simply because some would spend what they had and some would make profits selling what the spenders bought. This is the hardcore truth about collectivism: it goes against human nature and human nature explicitly shows some people are frugal, industrious, entrepreneurial,and some are not. It is common to hear of people who win the lottery and are broke within a few years. It is also common to hear of people who have nothing and within a few years are wealthy. And so it goes.