Puma basketball is back in a big way. The brand that hadn't signed an NBA player since Vince Carter left for Nike in 1999 has already gone out and signed the projected #1 pick in the NBA Draft, as well as Marvin Bagley III, who could go #2 overall, and Texas Tech's Zhaire Smith.

Additionally, Puma has officially named Jay-Z as the President of Basketball Operations. According to Complex, Jay-Z will have a say in the players selected to join Puma's revived basketball division, in addition to assisting in the overall direction of the brand.

In celebrating the brand's resurgence, Puma today honored basketball legend Walt “Clyde” Frazier with a lifetime contract. PUMA has a long history in the basketball space with Clyde and the first ever endorsed sneaker – the PUMA Clyde - that was launched in 1973. As part of the re-launch, Today only, fans can buy one of 73 pairs of limited edition PUMA Clyde’s at PUMA Hoops HQ in Brooklyn (162 Flatbush Ave) from 11am-7pm.