Cruelty of the sport. He wants to secure his future and signs a long term contract last year when he should have bet on himself.
He will be losing millions as he is worth 4 times his current salary.
By the time his contract expires, he may not command a million contract anymore.
Everybody cant or wont make that gamble on that bet. At the time he signed it, it was probably the best decision for him. He secured a future for himself and his family. He got to do what he hopefully loves.
We all know this sport. A serious crash and it can all be over.
He has a salary, but he can and will also earn prize money from winning races. Many commercial deals, sponsors and endorsements... Im sure he will have a lot to pick from now on. It is not like he will be poor or have financial problems. I wouldnt worry that much about it is my point, right now.
Im not read up on the details of the contract or if it is known, but could the salary be increasing every year of the contract for example? Bonuses related to performance? No one here probably knows exactly how it could be structured or if it can be renegotiated.
If he gets treated bad, then he will leave. Hopefully the people running the team will keep him happy and they will make sure things are being taken care of. He seems to be at the right place for him. Changing teams for more money isnt always the best, and you might lose whats really driving you when you start to worry too much about that. Even though you should get what you are worth, which will surely come if you have patience, if you are great at what you do.
If he was bamboozled into a really bad deal, because he was young and unaware... then he might want to consider a new agent and a lawyer. Learning for having gone through it. Bad and ugly business exists everywhere I am afraid. Not just in sports or cycling.