I’ve wondered this question many times. Read this article from GQ to find out. It’s really compelling. Below are some excerpts:
Gandy and Glanville cite three factors that combine to drive up costs: an athlete’s desire to live similar lifestyle as his peers; a priority on ease, and quickness of service rather than cost; and the perception that there is always another massive check coming.
Part of the expense comes from the unique realities of an athlete’s life. For someone with a contract worth millions of dollars, the priority is ease rather than price. That luxury is expensive.
“Services cost more for these guys, mostly because no one has time to compare and contrast anything. It is all about speed and convenience,” Glanville says. “It’s not just because you’re showing off. You are so busy with the game. [During a baseball season], you have 162 games. You’re not paying attention to anything other than playing. I had one day when six or seven paychecks went into my back account and I didn’t even look.”