Not sure if I phrased the question right, but what makes me ask is the Utah Jazz basketball team. I know they used to be in New Orleans (I’m almost sure) where having a team called Jazz made more sense, but now they are based in Utah, which I only associate with Mormons abs MLMs. Couldn’t someone in Utah have just made up a new team instead of buying an existing one? Same with the Giants.
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They are essentially like companies or legal entities, so someone buys the “Company” and any owner can opt to move the company to a different training and home field location available.
In some countries like Australia, they’re more specialised entities and a transfer of ownership or location can’t happen quite as easily but in the U.S. and some other places the law simply views them as a company.
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