Easy money goes fast but with the athletes they often have to earn it, they surprise me, young and stupid I guess.
The skills that it takes to earn money as an athlete are not necessarily the same skills that it takes to manage money. It's the same for entertainers and others who find themselves getting windfalls when they are suddenly in demand. If you haven't learned to manage your finances before you strike it rich, the odds are that you'll develop spending habits that are sustainable when you are at your peak earning years, but not when you are no longer viable as an athlete or in demand as an entertainer. Throw in unscrupulous managers and other entourage members who are skilled at milking someone else's earnings, and it's a formula for bankruptcy.