[8][9] Early into the season, the team traded long-time Hornets guard Muggsy Bogues, along with second-year guard Tony Delk to the Golden State Warriors in exchange for B. J. Armstrong, who won three championships with the Chicago Bulls in the early 1990s.
[10][11][12][13] At mid-season, the team signed free agent Vernon Maxwell, who was previously released by the Orlando Magic,[14] as the Hornets held a 29–18 record at the All-Star break.
[15] Despite injuries to Phills, Vlade Divac and long-time original Hornet Dell Curry, the Hornets had another stellar season posting a ten-game winning streak between February and March, winning 15 of 16 games between February 21 and March 26, 1998.
The Hornets finished in third place in the Central Division with a 51–31 record, and qualified for their fourth playoff appearance.
[22][23] In the playoffs, the Hornets defeated the Atlanta Hawks, 3–1 in the Eastern Conference First Round,[24][25][26][27] but were eliminated 1–4 by Michael Jordan, Scottie Pippen and the 2-time defending champion Chicago Bulls in the Eastern Conference Semi-finals,[28][29][30][31] despite winning Game 2 at the United Center, 78–76.
[32][33][34] The Bulls went on to reach the NBA Finals, where they defeated the Utah Jazz in six games to win their sixth championship in eight years.
Traded Muggsy Bogues and Tony Delk to the Golden State Warriors for B. J. Armstrong.