You can nest teams within teams to give you the flexibility to match your company's structure. For example, you can also create a management team (with Admin permissions) and sub-teams underneath them that have Read or Write permissions.
By default, your name will show up in the “Assign Team Manager” field. You can click on the X icon to remove your name, and input email addresses of other people who you want to invite to become Team Manager of the new Team.
Tips: you can leave the “Assign Team Manager” field blank at the moment of creating team. This means that the newly created Team will have no member. You can then invite members later.
The side sheet will close and you will see the new Team. The invited Team Managers (if any) will receive an email saying they have been invited to become the Team Managers.