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Why the Charlotte Hornets can't lose -- even while losing

By Erik Spanberg, Charlotte Business Journal

Charlotte Hornets guard Terry Rozier III, left, passes around Philadelphia 76ers guard Shake Milton in the first half of a preseason NBA basketball game in Winston-Salem, N.C., Friday, Oct. 11, 2019. (AP Photo/Nell Redmond)

By Erik Spanberg, Charlotte Business Journal

CHARLOTTE, N.C. — The Charlotte Hornets posted their third consecutive losing season in 2018-19, once again missing the playoffs in a league that sends more than half its teams to the post-season. Get ready for more of the same — or worse.

[READ: Michael Jordan says Hornets add 2 partners to ownership group]

The franchise’s best player, All-Star guard Kemba Walker, became a free agent in June and left for the Boston Celtics, taking away Charlotte’s scoring punch and its lone marquee player.

According to analytics site FiveThirtyEight, Charlotte has a 6% chance of reaching the playoffs. The same site projects the Hornets will win 26 games — out of 82.

[ALSO READ: Hornets announce 2019-20 regular-season schedule]

And yet Michael Jordan’s franchise continues to win off the court — even when it loses. Bojangles’ and Papa John’s departed as corporate sponsors in recent months, but the team quickly landed comparable deals with Chick-fil-A and Dominos’ Pizza. The team also re-signed one of its largest sponsors — Lowe’s Cos. Inc. (NYSE: LOW) — in a summer that included contract extensions with Anheuser-Busch InBev, Blue Cross and Blue Shield of North Carolina, CPI Security, Husqvarna, and Technocom. Newcomers include Weight Watchers and PetSmart.

CBJ explores why sponsors and fans are still buying in here.

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