He has a dream job – watching over every dollar earned by the richest athletes in the world and not letting them spend it recklessly.
Every day Joe McLean does what most people do two or three times in their lives. As the general manager of NBA players, he buys or sells cars and houses for them. However, that is only part of his duties. His job is to protect their property no matter what form it takes.
Their houses need renovation, and their ponds need cleaning and filtering. McLean is there to make sure everything is taken care of.
Of Every Dollar Earned, 60 percent Should be Set Aside
What Joe McLean does is not manage the money of the best basketball players in the world, he is managing their wealth. He is there to guide them. From the basketball players who have shown their trust in him, McLean asks them to set aside at least 60, if not 80 percent of every dollar earned, if it is a question of long-term contracts. While Joe McLean doesn’t mention it, investing some of that percentage in NBA betting might be a good idea. With investing a couple of dollars you could win hundreds. For a breakdown of all the tips head to https://www.betphilly.com/nba.
With Great Wealth Comes Great Discipline
McLean does not negotiate his clients’ contracts. His job is just to add value to every dollar the players earn. He is at the same time an investor, a butler, a financial director, a friend for a game of golf, and a sports therapist, but when necessary – a strict dad who forbids.
When Aaron Gordon signed his first big $84 million contract, McLean warned him that with great wealth comes great discipline.
Manages Contracts Worth $1.7 billion
McLean’s company, Intersect Capital, currently manages contracts with a total value of about 1.7 billion dollars. Yet his company, located in San Ramon, California, employs only 10 people because he wants to provide the ultimate personalized service.
Almost an NBA Player
As he says, the closest he got to the NBA was when he went through the entire summer camp and preparations for the Sacramento Kings in 1998. But he did not make the team. Instead of continuing his sports career, he devoted himself to finance by advising ordinary people who got into financial problems. His former teammates discovered he was good at it and started calling him to help them. And so he returned to the NBA again, but with a different job.