As expected, Michael Jordan took to the podium in Time Warner Cable Arena's practice gym to announce the team has indeed submitted papers to claim the Hornets name, with the estimated process being completed to be ready by the 2014-15 season.
Jordan cited the overwhelming support of a name change from the fanbase in regards to Charlotte reclaiming the 'Hornets' name in making the decision, which gained a lot of steam in the past couple years from the Bring Back The Buzz grassroots movement.
In the next months, the name must be approved by the NBA Board of Governors, which is probably a just a formality. Then the organization will likely undergo an extensive rebrand from everything including jerseys to highway signs.
Pete Guelli, the executive vice president and chief sales and marketing officer, said that the rebrand will cost an estimated $4 million.
As for the teal and purple colors (which I fondly adore), Jordan said it's too early to tell and that they haven't thought about colors or logos at this point. Though it should be noted that teal and purple were all over the backdrop and the new site, Back The Buzz, which advertises season tickets and flashy jacket.
The rebranding could offer a healthy revitalization of energy and nostalgia to drive a new feel to the team as they continue to try to build a consistent winning team for years to come.
As Jordan mentioned, the main focus is still on good basketball, so with that in mind, let's turn our focus toward the draft lottery at 8:30 on ESPN.