You can archive (delete) a team by clicking on management, then click on settings. Under the preferences section you will see a button called Archive Team.
When you archive a team, we will send an email to everyone on the team letting them know that it has been archived. If that was the only team they were a member of they will be asked to create a new team the next time they login.
Only the person that created the team can archive the team. Other members of the team will see a disabled button.