In 2008, the Charlotte Hornets carried the Time Warner Cable name after both sides agreed to a 20 year agreement to do so. Today, the Charlotte Hornets announced that they will be changing the name of the arena they play in.
The new name for the arena is called “Spectrum Center”. This is because Charter Communications purchased Time Warner Cable and will continue with cable service under the Spectrum name.
Industry sources say that the team could benefit from making $5 million a year because of this name change. The name change will take place before the upcoming NBA season starts, according to the President of the Hornets, Fred Whitfield.