The NBA disaster known as the 2005-06 New York Knicks were the highest-paid team in the history of professional basketball, and they usually lost. The Knicks were nicknamed "Team Titanic" by the New York Post and "Team Turmoil" by others.
(Google News, 21 March 2006)
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... a joke. The New York Knicks in one season have gone from "Team Thomas" to "Team Titanic" to "Team Turmoil". But ever ...
22 July 1977, Valley Morning Star (Harlingen, TX), pg. B2:
The Team Turmoil Award -- Given to the New York Yankees, whose first half adventures have been something akin to a television soap opera.
20 October 1977, Frederick (MD) Post, pg. B2:
There were problems all year long in a never-ending soap opera atmosphere that earned the Yankees the nickname "Team Turmoil."
30 July 1978, Los Angeles Times, pg. E1:
Billy Martin, whose baseball career was all but buried Monday with his forced resignation as manager of Team Turmoil, resurfaced at Oldtimers' Day in Yankee Stadium Saturday and was received by the fans with open arms.
10 February 1979, Los Angeles Times, pg. C1:
A Farewell to Games
It's the Last Spring Training for Team Turmoil's Pacifier
30 August 1981, Chicago Tribune, "Yankees fired up again, by George" by Bob Verdi, pg. C1:
Team Turmoil suddenly became Team Laryngitis.
8 April 1980, New York Times, pg. S1:
Fresh Faces but Still Same Old Turmoil
Team Turmoil Dressed Again in Pinstripes In Yanks' camp