Meet the Money Whisperer to the Super-Rich N.B.A. Elite – Smart Media Magazine

Meet the Money Whisperer to the Super-Rich N.B.A. Elite

The handwriting was small, and the list covered at least three full pages. Multiple home renovations. Early budget forecasting with Mr. Arenado, who just re-upped with the Colorado Rockies for eight years and $260 million. Closing a deal for Mr. Thompson to become (they believe) the first N.B.A. player with his own line of golf equipment. (Eat it, Steph.)

To do all this, Mr. McLean charges clients an administrative fee, plus a percentage of their assets. His cut declines as the value of their contract increases: 1 percent annually for amounts less than $50 million, then 0.5 percent for the next tier and so on.

Mr. Vucevic, a 7-footer from Montenegro, arrived and gave Mr. McLean a powerful clasp-and-hug, then stuffed his 260-pound body into the banquette next to him. “Vooch” is married with a young family, reserved, cautious by nature. He’s not on Instagram. He does not party. When he talks about money matters, it’s as if he’s channeling Mr. McLean.

“The long-term plan is to me the most important job right now,” Mr. Vucevic said, “because I am making a lot of money and there’s a lot of cash flow, but once I retire it’s going to be very different. I want to make sure that I can sustain a similar lifestyle because my money is making me money.”

He does have one vice, the same one as pretty much every N.B.A. player, and in his early 20s, he and Mr. McLean fought about it all the time: cars.

“Cars,” Vooch said, smiling.

Nothing stresses out Mr. McLean more, though he’s better about it than he used to be. “Now it’s like, O.K., just one,” he said. “Whatever you want — but just one. That’s it.’”

The indulgence came up in almost every interview.

“Cars,” Mr. Thomas said.

“Cars,” Mr. Gordon said.

“I’ve heard stories of pro athletes just buying car, after car, after car, after car, after car, after car, after car, and they don’t have the money,” Mr. Gordon added. “They’re paying all these car notes and going into debt. And they’re not even driving the cars.” He has a mere four cars, two of which he gave to his parents. By N.B.A. standards, his driveway in Orlando is an empty parking lot. Even the vehicles he kept for himself reflect a budding fiscal maturity that would make Mr. McLean beam.

Source link Sports

Leave a Reply

Your email address will not be published. Required fields are marked *