Puma has returned to basketball and Monday announced that it has named rapper Jay-Z president of Puma basketball.

"We're making a serious statement about the entry of the category, that we want to be a performance brand, but then also very culturally focused," Adam Petrick, the brand's global director of brand and marketing, told Complex.

Puma has already snagged the signatures of some of this year's top NBA Draft prospects, including DeAndre Ayton (Arizona), Marvin Bagley III (Duke), and Zhaire Smith (Texas Tech).

The company also announced Monday that former NBA star Walt Clyde Frazier had been signed to a lifetime deal, and limited edition shoes would be released.

With rookies already signed, it's only a mater of time before Puma starts adding established veterans.