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Yeah…I’m not sure what sports we're talking here. I don’t want to assume an American perspective, so I genuinely don’t know when it comes to soccer, cricket, rugby, etc.
But here Stateside, the best players are often not the most highly paid. Patrick Mahomes - and I understand people can disagree - is not the most highly paid QB. Not for a while. Prior to this season, Travis Kelce had been the top TE in the NFL for a number of years, but his contract hadn’t reflected it for some time.
Even without the salary cap, in a sport like Major League Baseball, one could argue a player like Shohei Otahni is still not being paid what he’s actually worth, despite his record breaking contract. He’s a Hall of Fame pitcher and hitter in one player. The contracts for each of those individually is worth more than what he got.