But im paying for what i got, i have two players that have legendary ratings. Players with legendary ratings are going to cost that much though. I didnt bid for my point that high though, but those players are supposed to have high salaries like that
Except that the point is, you can't pay for what you've got. If your arena sells out, you'll make $65750 in revenue from gate receipts. Assuming you manage to stay in the Cup, that's another $50,000 per week. I'll be very optimistic and say $100,000 in TV revenue + merchandise, though I strongly suspect that it's less than that. Then, on a perfect week, you're bringing in roughly $215k before expenses. Even with the minimum staff and no scouting, you're paying over $420,000 in salary just on these two players.
In other words, you are
losing more than $200,000 per week. And that'll push you under the -$500,000 bankruptcy line extremely quickly, and you'll end up losing your team in the end. In a month or so after that when you come back as OKCFan17, hopefully it'll work out better for you then.