Thanks a lot for the info, macro. Yeah, like many Kentuckians, and others alike, I'm a die-hard college hoops fan and I don't care so much for the NBA. I was intrigued by the idea of Louisville getting the Grizzlies franchise, or perhaps one in the future, but I know some UK fans (and I may or may not be related to some of the ones I'm paraphrasing) who still wouldn't cheer the NBA team if it was named 'Louisville'. If it was named 'Kentucky', though based out of Louisville, that would be fine though.
In all seriousness, I do think that is enough of an issue that a prospective team relocating or expanding into Louisville would HAVE to be branded 'Kentucky' for the complete backing of the potential fanbase. UofL fans can fall back on it being named after the state, while the UK fans like those I spoke of can cheer them on with that name without compromising their anti-Louisville sentiments, though that's the only city in the state a professional franchise could reside in.