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The Hornets have been an NBA orphan of sorts over the years.
First, they relocated from Charlotte to New Orleans after their request to relocate to Memphis was rejected in favor of relocating the Vancouver Grizzlies to Memphis. Then, they were forced to temporarily relocate to Oklahoma City after Hurricane Katrina devastated the New Orleans area.
Finally, the Hornets were taken over by the league after purchasing the team from former owners George Shinn and Gary Chouest.
Despite having several chances to re-christen the Hornets, various ownerships have declined to do so. Yes, there are hornets in Louisiana, but the team wasn't actually named after the bug. The name was derived from Charlotte's fierce resistance to British occupation during the Revolutionary War.
Stronger ties to Charlotte couldn't have been made, ties that should have been severed when the team moved to New Orleans, a city with a wide variety of culture and features to tie into the team's new name.
Geographically Appropriate Name Suggestions:
New Orleans Gators—referencing the large alligator population in Louisiana swampland.
New Orleans Cajuns—an homage to the original settlers of the area.
New Orleans Voodoo—referring to the popularity and mystique of the black magic in Louisiana.