Yes, that is entirely racist and awful.
But there are so many that offend me, and this doesn't even include college teams!
Chicago Blackhawks - Named after a famous warrior, but paints native americans in a poor light as ruthless warriors
Kansas City Chiefs - Same thing
Vancouver Canucks - Canuck is considered slang for Canadian, which can be used in a derogatory fashion
New England Patriots - Inappropriate since the word Patriotism now means sticking hands down pants to guard against fake terrorist threats (which means they need to move to a LGBT league)
Atlanta Braves - Obvious
Dallas Cowboys - Insinuates all Texans are Cowboys
Minnesota Vikings - I am sure the Vikings would hate the NFL
New Jersey Devils - Offensive against Christians
New Orleans Saints - Offensive against Devil Worshippers
New York Giants - Offensive against rather large men or women
Pittsburgh Pirates - Majority of pirates from Pittsburgh were for MP3's
Utah Jazz - This is not Miles Davis' work