J.J. Watt Mic'd Up from Titans Game

[HPF Bob]

People who gain sudden wealth often start a foundation because the donations to a non-profit foundation are tax deductible. The player can chair or co-chair the foundation so they are directing where the money goes while turning around and telling the government that the money was "given to charity".

Frankly, anyone who makes a lot more money than they could possibly need (all those commercials and endorsements can add up to more money than their player contract) is smart to set up a foundation. True, you don't keep the money but you get to portray yourself as a philanthropist or humanitarian, reduce your tax hit and it's money you really won't miss.