This reminds me of the time in 2004 when aging NBA star Latrell Sprewell turned down a three year contract offer from the Minnesota Timberwolves worth a guaranteed $21 million. Apparently insulted by the offer, which was a pay cut compared to what he was paid under his prior, expiring contract, he dismissively brushed aside the offer with the memorable phrase,"I have a family to feed."
He never played in the NBA again. Last year his yacht was reposessed and his mansion in Milwaukee was foreclosed upon.
It would be interesting to see how many "Sprewell-Effect" cases there have been during the last 12 months. Of course, I think of Trevor Hoffman who blew off a $4M offer from the Padres.
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