The team now known as the Wizards started as the Chicago Packers in the 1961-62 season. The next season, they changed their name to the Zephyrs. And the season after that, they moved to Baltimore, Maryland and became the Baltimore Bullets, no relation to the 1940s Bullets franchise. In 1973, the team moved to Landover, Maryland and became the Capital Bullets, and they changed their name to the Washington Bullets the next season. During the transition, the Bullets also played home games at Cole Field House, the home of the University of Maryland Terrapins, while waiting for the completion of their new arena in Landover, the Capital Centre (later known as the USAir/US Airways Arena.) Through the mid-1990s, the Bullets still played a few games per season in Baltimore.

Although they had future hall of famers Elvin Hayes and Wes Unseld on the team, The Bullets finished the season 44-38 and were a longshot to win the NBA Championship, but coach Dick Motta coined the famed phrase "It ain't over 'til the fat lady sings!" It became a rally cry for the Bullets as they made a great playoff run that led to The NBA Finals as they later defeat The Seattle Supersonics 4 games to 3 to give Washington D.C. its first pro sports championship in 36 years.

On May 15, 1997, the Bullets officially unveiled their new name and logo. They had changed it because the name Bullets carried a violent overtone. The names Seadogs, Express, Mustangs, and Monuments were also considered but rejected. Also that year the Wizards moved to the MCI Center located at 601 F Street in Northwest Washington, DC. The MCI Center is also home to the Washington Capitals of the National Hockey League and the Washington Mystics of the WNBA.

The 2004-2005 season saw the team post their finest regular season record in 26 years (45-37) and marked the first time the franchise had ever made the playoffs as the Wizards. The last time the team had made the postseason was in 1996-1997, when it was still known as the Bullets. In Game 3 of the first round against the Chicago Bulls, the Wizards won their first playoff game since 1988. In a Game 5 victory against Chicago they took their first lead in a playoff series since 1986. In Game 6, the Wizards won their first playoff series in 23 years defeating the Chicago Bulls 94-91 and became only the ninth team in NBA history to win a playoff series after being down 0-2. Following this game, the Wizards were swept by the Miami Heat (#1 seed in the 2005 playoffs), ending a stellar season.

--Wikipedia