Charlotte Bobcats owner Michael Jordan is changing his team's name to the Hornets, said a person familiar with the situation.

The person said Jordan will detail the timetable for the change to be completed at a press conference the Bobcats have scheduled for today. The person spoke to The Associated Press Monday on condition of anonymity because the name change has not been publicly announced.

NBA deputy commissioner and COO Adam Silver previously said it would take "about 18 months" for the Bobcats to change their name. That means Charlotte could once again become the Hornets by the 2014-15 season.

The Hornets resided in Charlotte from 1988-2002 before then-owner George Shinn moved the franchise to New Orleans.

The New Orleans Hornets recently changed their name to the Pelicans.

The name Bobcats originally incorporated the first name of the team's initial owner, Bob Johnson, who later sold the team to Jordan in 2010. In February, Jordan weighed in on the idea of changing the team's name.

- Associated Press