The Wizards won’t have a new (or old) name, but they will unveil a new look on May 10. The team announced on Thursday that it will reveal an updated red, white and blue color scheme — popularized by the Washington Bullets — during an event at Verizon Center that will include majority owner Ted Leonsis, executive vice president of business operations Greg Bibb, President Ernie Grunfeld, Coach Flip Saunders, current Wizards players, notable Bullets/Wizards alumni, the Wizards Girls and G-Wiz.

“The updating of the Wizards brand has been a priority we have focused on with our partners at Adidas and the NBA league office for the better part of the past year and we look forward to the introduction of our new look on May 10,” Bibb said in a statement released by the team. “We are excited about the finished product and we are eager to share the new designs with our fans on a day where our proud past will meet our exciting future.”

A red, white and blue version of the current Wizards logo, which features a Wizard emerging from a crescent-moon-shaped basketball, surfaced a few weeks ago on the internet, but multiple sources have confirmed that that logo will not be seen prominently in the re-branding of the franchise. A team source said Bullets legend Elvin Hayes is expected to participate in the event.