There was an NHL player a year’s or so ago who had to declare bankruptcy because his parents embezzled all his money.
I know an NBA Hall of Famer who lost everything because of bad deals. As one movie part put it, “Quicksand - everywhere you look.”
Jack Johnson, defenseman for the Columbus Bluejackets. He signed his big contract when he was with the LA Kings, and his parents borrowed against the entire contract and squandered it on themselves. Johnson no longer speaks to them and the club has stepped up with legal and financial planning assistance to try to salvage something for him.