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RE: Earned $61 Million Playing In The NBA - Now Has Only $3,000 In The Bank
Sadly, cases like that are very common.
A lot of people in sports and entertainment in general seem to not understand at all how to properly manage money.
I thought that with the amount of money they got, they would be sorrounded with financial planners giving them advises (not that a financial planner is always needed, but with people like this it’s obvious they need one)
They do, but their best interests are not in mind and they get milked by everyone around them, like mobilewriter said.
Many people don't care to learn about finances, even if they come into a lot of money. For them I would hope they could get a good, and trustworthy, financial advisor.