When statistics show the majority of Professional Athletes have serious financial problems within a few years after retirement - they need solid financial advice.
Attending a University and getting paid for it the schools need to provide solid support in the way of financial counseling. Not doing so pretty well assures one or more of those who hit the financial skids later will blame the school and an enterprising lawyer will file suit against the institution for them.
As an example, Vince Young earned around $26 million in six seasons playing professional football. Young trusted the wrong financial planner who reportedly misappropriated $5.5 million of his money. Because of this and poor spending habits, Young was forced to file bankruptcy.
Baseball great Curt Schilling saw a future in video games and spent $50 million in creating his own company, 38 Studios. Fast forward a couple years. 38 Studios filed bankruptcy, and Schilling is out his $50 million investment.
Big earnings early without sound business advice and planning leads to problems.