UPDATE: Charlotte COO Fred Whitfield announced at the press conference that the franchise would reclaim its past Hornets history. This means the 1988-2002 Charlotte Hornets, as well as the 10-year lifespan of the Charlotte Bobcats, will now factor into this franchise's all-time stats and records. Whitfield also said he intends to bring Bobby Phills' retired jersey, which is hanging in New Orleans' Smoothie King Center, back to Charlotte.
The Charlotte Bobcats are no more. Farewell, Rufus. At 12:30 p.m. ET on Tuesday, there will be a press conference to officially announce that the franchise has been renamed the Hornets. It will be streamed live on the team's website, which is already up and running. In fact, if you try to visit bobcats.com, you will be redirected to the new Hornets site.
The change was timed to coincide with the draft lottery. While Charlotte will not be represented at the proceedings in New York, it has a small chance of gaining a pick -- if the Detroit Pistons fall back from their No. 8 spot, the pick will go to the Hornets.
The team went 293-511 in 10 seasons as the Bobcats, so no one should really be mourning the moniker.