Updated: The group that owns the Sudbury Wolves hockey team also owns a semi-professional basketball franchise. It's being added to the 10-team National Basketball League. Tuesday, owner Dario Zulich and his group announced a team name and logo. It may be a hockey town, but Sudbury Wolves Sports and Entertainment owner Dario Zulich is betting big, that it's a basketball town too. “We're in the business of entertainment. Hockey is one means and basketball is a completely different kind of entertainment. It's more personal, it's a little bit more family-oriented, there's a little bit more action." said Zulich. A year ago to the day, Zulich announced plans to bring a National Basketball League franchise to Sudbury and now, that team has a name, the Sudbury FIVE. The marketing team says it's borrowing from the recent strategies of the Toronto Raptors, choosing a name that speaks both to Sudburians and to the region. A kind of “We the North” for Northern Ontario. Andrew Dale is the Vice President of Marketing. "I really see this as basketball for north eastern Ontario. And that 705 area code really represents it pretty well, right? With those five cities." said Dale. It's also a nod to the 5-cent piece, or the nickel, the precious metal Sudbury is most famous for, and just simple math. Each team has five players on the court. So far, fan reaction has been mixed. On the Sudbury Wolves Facebook page, most comments ranged from surprise to derision. Others drew a parallel with a heavily marketed brand of chewing gum. Even if you don't like the name, team officials say you'll love the experience. Bob Johnston is Vice President of Basketball Operations. "You can get, you know, children from the stands onto the court. We're going to have a choreographed and professional dance troop, and we're going to have lots of in-game promotions and contests. There's going to be a few little surprise elements as well." said Johnston. For now, The FIVE will play downtown at the Sudbury Arena starting in November, but Zulich plans to move the team into their new digs on the Kingsway in two years' time. Original: Sudbury's new professional basketball team, being launched by Wolves owner Dario Zulich, has a name as of today. The team will be called the Sudbury FIVE. Owners say it’s a nod to Sudbury being in the 705 area code, and to the Nickel City, as in five cents. The team will be the 11th franchise in the National Basketball League and begins play this November.