Joe McLean is the premier wealth manager of the NBA's richest stars. He also has clients in the NFL and MLB, but the "gobs are the biggest in the NBA," writes NYT's Devin Gordon.

What he does: As Managing Partner at Intersect Capital, McLean's job is not to negotiate his clients' contracts (that's the job of an agent), but to "grow every dollar that comes in and track every dollar that goes out."

  • "He's part investor, part butler, a CFO and a golf buddy, a sports therapist and, when necessary, the disapproving dad," writes Gordon.
  • To retain his services, athletes must agree to put aside at least 60% of every dollar they earn. If they can't commit to spending their money wisely and playing the long game, they're gone.

How it works: Intersect manages contracts worth $1.7 billion dollars for around 50 athletes, yet only employees 11 people. The idea is to provide them with intimate, white-glove treatment.

  • "Say I need golf clubs — like, custom golf clubs," said Magic star Aaron Gordon. "[Joe] knows exactly where to go ... He's just a do-it-all guy."

Go deeper: NBA suspends Warriors minority owner after incident with Raptors player

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Ousted former U.S. attorney for SDNY to testify before House Judiciary Committee

Berman in October 2019 in New York City. Photo: Johannes Eisele/AFP via Getty Images

Geoffrey Berman, the former U.S. attorney for the Southern District of New York, is scheduled to testify to the House Judiciary Committee next week on the circumstances of his forced resignation, Politico reports, citing a congressional aide.

Why it matters: As the top federal prosecutor in Manhattan, Berman oversaw high-profile cases that worried and angered President Trump and his inner circle, including an investigation into his personal lawyer Rudy Giuliani. His removal has added to allegations by Democrats that Attorney General Bill Barr has politicized the Justice Department under President Trump.

Stimulus outlook takes a hit even as coronavirus cases skyrocket

Data: Bureau of Labor Statistics; Chart: Axios Visuals

The pandemic is getting worse, and the question is whether the economic recovery will go with it.

Why it matters: America adding 7.5 million jobs over the last two months pales in comparison to 20+ million lost over the two months prior.

3 hours ago - Health

Texas governor mandates face masks in public spaces

Photo: Mario Tama/Getty Images

Texas Gov. Greg Abbott (R) issued an executive order Thursday requiring all Texans to wear a face covering in public in counties with 20 or more positive coronavirus cases.

Why it matters: It's a dramatic reversal by the Republican governor that underscores the severity of the outbreak in Texas, which set a single-day record on Wednesday with more than 8,000 confirmed new cases. On June 3, Abbott issued an executive order banning local governments from imposing fines on people who don't wear masks in public.