I don't like this argument, everyone uses it for athletes, as if they can't work after their career. Or just invest what they earn, cause it's plenty for someone like Philipsen.
There is no guarantee you'll keep on earning good money after your career. You might have a career ending injury that will affect you in your later life aswell. Look at Nelissen, Broeckx, Ardilla, Niels Albert etc.
Or you might not have any higher education because you focused on developing as an athlete, forcing you to do some hard labour.
You're young, someone offers you a lot of money that will set you up for life. You just take it. It's a gamble for sure. But, you know you will not have no financial problems for the rest of your life.
This is something you can more clearly see in sports such as Basketball.
Some players (Oldadipo, Schröder) gamble om improving more and don't sign huge contracts, which ends up biting them in the ass. Other players literally play like their life depends on it untill they sign their first non-rookie deal and slow down afterwards (Deandre (Domin)Ayton).
I would probably go the latter way, having that mental rest of knowing you and your children are set for life, I think that's something a person or parent values very much.