The Charlotte Bobcats face a $3 million decision: Is it worth the investment to change the team’s name to “Hornets,” hoping to capture the nostalgia for Charlotte’s original NBA team?
Reports Tuesday said Tom Benson, the new owner of the New Orleans Hornets who said he wants to change his team’s nickname to something that represents that city, has chosen “Pelicans” as that new name.
“Hornets” might be available as soon as next season, so the Bobcats must decide if they want the name back in the city where it has over a 100-year history. Is there enough goodwill in the old teal-and-purple stripes, in terms of more tickets sold and more merchandise purchased, to justify the cost?
Probably, says a sports branding expert, but not definitely.