On Tuesday, the Las Vegas franchise was officially named the Vegas Golden Knights in a ceremony outside their new home, the T-Mobile Arena, which is located on the Vegas Strip.

Bill Foley, the team’s majority owner, said the franchise was named the Golden Knights because a knight never gives up or retreat, which is something he hopes his new team will take to heart.

Foley, who graduated from the U.S. Military Academy at West Point, said he initially wanted to name the tem the Black Knights, but he encountered resistance from some people, including West Point officials.

Foley added that he had been working with Adidas on the team’s logo since July, but it wasn’t finished until late October. He also has some help with the decision making because his ownership group includes the Maloof brothers, who owned the NBA’s Sacramento Kings, and have experience running a sports franchise.

In December 2014, the NHL gave the Maloofs and Foley permission to conduct a season-ticket drive to gauge interest in having a franchise in Las Vegas. With the public showing significant interest in having a franchise, the league decided to add an expansion franchise in the city.

After his ownership group was awarded the franchise, Foley’s first move was to hire George McPhee, the former general manager of the Washington Capitals, as his general manager. After he was hired, McPhee put together a staff of nearly 40 people, which includes video analysts, scouts, and an analytics department.

On the business side of things, Kerry Bubolz, who was a longtime executive with the NBA’s Cleveland Cavaliers, was named the team president. Nehme E. Abouzeid was named the team’s chief marketing officer.

Interest in the new franchise has been through the roof according to Todd Pollock, the vice president for ticketing. Pollock, who initially was the only person working in the ticketing department, now has 10 other people assisting him in handling ticket sales due to the increasing interest in the team.

Even though they haven’t played a game or even have any players on their roster, Foley made a bold proclamation, vowing his team will win the Stanley Cup within their first six years in the league. While the new fans would love to see that happen, history isn’t exactly on their side.

Since 1991, the only expansion team to finish close to .500 was the 1993 Florida Panthers, who finished 33-34-17. On the bright side, the feat was accomplished by the 1967 Philadelphia Flyers, who won the Stanley Cup in their sixth year in the NHL.