If "team" is the subject of the sentence:
* They - "The team is practicing hard. They hope to win the championship."
* It - "The team is a well-oiled machine. It works together seamlessly."
If "team" is the object of the sentence:
* Them - "The coach congratulated the team. He congratulated them for their hard work."
* It - "The team lost the game, but we're still proud of it."
If "team" is the object of a preposition:
* Them - "The coach gave instructions to the team. He gave instructions to them."
Other options:
* They (plural) - can be used if you want to emphasize the individual members of the team.
* It (singular) - can be used if you want to emphasize the team as a whole.
It's important to consider the context of the sentence to determine the most appropriate pronoun.