Are there really a lot of bulls running around in Chicago?
Are there really a lot grizzlies found in Memphis? Maybe, I'm not familiar with Memphis area.
I don't think there are a lot of Lakes in Los Angeles. Are there?
The list can go on and on for all sports teams...
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The Bulls are named that I believe because their used to be tons of meatpacking plants in Chicago. The Wizards changed their name to be PC, and the Lakers and Grizzlies are both transplants that decided to change their name, so they don't particularly count.
No the name doesn't HAVE to reflect the area, I just prefer it, i.e. Suns, Steelers, Packers, Pacers, etc.