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[QUOTE="businesslawyer, post: 4008181, member: 55"]
I wondered about that myself when making my post, and the answer is it's different for everyone.  So let's say the $700k becomes $400k after tax.  Is your family desperate for the money?  Is that a life changing amount for them and thus the player?  Was the player only going to college to further his career, or would he have taken a minor league contract for free?  What is the player's academic potential?  Is he going to college to get a degree, but without baseball the college wouldn't be interested?  Or would he have a great change of a well paying job or profession without baseball?

So the question about where do you draw the line is only answerable on a case by case basis.  But I feel safe in saying that (i) if you're getting over 2 large after tax, you have to take it and adjust your plans around it, and (ii) if you're only getting $100k pre-tax, that money is far less likely to be of more economic utility for the rest of your life than a college degree.
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