When the Charlotte Hornets enthused to New Orleans for the 2002-03 season, the city and the NBA decided to create a new team in Charlotte for the 2004-05 season. Several ownership groups, counting one led by former Boston Celtics star Larry Bird, made bids for the team. In the end, a collection led by BET billionaire Robert L. Johnson won out. Johnson is one of the first famous African-American owners in U.S. sports. Another notable co-owner is alternative owner and rapper Nelly.

The Charlotte Bobcats' name was voted upon, the extra possible choices having been the Charlotte Dragons or the Charlotte Flight . The Charlotte Bobcats' is one of the few indigenous predators to the Charlotte-Mecklenburg County area of North Carolina . That paired with the fact that Charlotte Bobcats' is home to the Carolina Panthers made the cat-theme a normal choice to carry over to its new basketball team. It is often quoted that another reason for the team's name is a derivation of the owner's name since he is a "cat named Bob ". The Charlotte Bobcats' plays in the Eastern Conference's Southeastern division, along with the Miami Heat, Orlando Magic, Atlanta Hawks, and Washington Wizards.