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The ACL is "Modify" for Team (we've done at the Context level). You'll also need to"Configure Actions"from the Context Team page.
I agree with the alternate Role approach.Ithinkthe Product/Library/Project Manager Role is a bit of a tiger trap in thatin most Org's those that would likely populate thoseRoles are the last that you'd want having Data Admincapabilities... we've changed our display names to Product/Library/Project Data Manager.
(Addthe ability to make Global Changes to Context Teams and Context level ACL's to my wish list)