Another day, another big business move from Jay-Z.
After several rumors, Puma has confirmed they are back in basketball. And for their first additions, they’ve signed top prospects DeAndre Ayton (Arizona), Marvin Bagley III (Duke), and Zhaire Smith (Texas Tech).
On top of that, the global shoe and sportswear company has also announced that Jay-Z — fresh off releasing a joint album with Beyoncé — has been named the president of basketball operations.
“We’ve been working with Roc Nation for quite some time. They’ve been great partners to us for several years,” Adam Petrick, Puma’s global director of brand and marketing, told Complex. “We’ve done many different deals with many different ambassadors.”
Responsible for helping select players to join the team, Hov will also have a hand in the art design and overall concept and direction of the brand.
“What’s important to him on a day like today is that it’s clear we’re making a serious push with players like Bagley and Ayton and Smith,” Petrick continued. “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. It’s clear that we’re looking at basketball through the lens of culture, and thinking about the fashion of basketball, the music of basketball, all the aspects of culture around basketball as much as the on court presence that we will have.”
To celebrate the relaunch of their basketball division, Puma has signed OG Walt Frazier as a lifetime endorser and released limited-edition pairs of the Walt Frazier Clydes.
The worst kept secret: Puma is back in basketball. Company signing their first endorser Walt Clyde Frazier to a lifetime deal. Releasing 73 limited editions pairs at place on Flatbush Avenue in Brooklyn today. New handle is @PUMAHoops. pic.twitter.com/fmbgi5B0M0
— Darren Rovell (@darrenrovell) June 18, 2018