Not checked your maths but that actually makes it sound not that crazy. My husband’s work charges him out at over £100 an hour (they don’t pay him that of course). Especially when you consider that outside of official training time he’d still be expected to do regular exercise, eat a specific way, maintain a certain type of lifestyle, some unsociable hours with restrictions on which days can be taken off and any travelling. I know it’s still a ridiculous amount but the hourly rate isn’t that different from a few jobs that are specialist and charge by the hour.
I'm charged out at ~£200/hour. I get paid (well) but under 1/3 of that for the work I do. I'm not on anywhere near £1m though. £1m/year for a 40 hour week works out around £520/hr (assuming ~20hours of training, team briefing sessions, etc. and ~10 hours on a Saturday including travel time plus additional time around midweek matches)