Arena Teams consist of 2 v 2, 3 v 3 and 5 v 5 the roster can be the number times 2. That means 2 person teams can have 4 people, 3 have 6, 5 have 10.
You do have to have a charter that needs to be signed. 2 v 2 needs two people to be signed, 3 v 3 need 3 signed and so on. The price of a charter can get expensive I think that I say one that was about 200 gold and some change. I will check this out to confirm.
You get to design your team symbol but do not get to make a tabard or get to change it like you do for a guild. There are no other positions for promotion unless you want to give up the team and you promote the person to Team Captian. I an going to put a suggestion in the Suggestion Forums on the WoW site for the Arena Tabard and will see how that goes.
There are weekly stats that the team has, and for the season and there standings. These are at the PVP setting of yout character. You can also press the hot key "H" to bring up the window, This is where you can look at the Arena points also. There are some really nice things that you can buy from there, but you have to have the arena points to purchase them.
Most of this information I got from a GM and the little question mark that is at the bottom of the primary innerface bar. So if you want more information you can go there or you can ask me.
If I have missed anything, well, so what
. I dont know all that much so the missing information is due to my ignoance of it. If you do have infomation for Arena Teams. Please post and let me know.
As for any one wanting to be a part of this team. Like I said, unfortunetly I can't invite any one that isn't 70. I tried. With the people that I have in mind for this team I will have two open spots left. I will talk with the people that I have in mind for the last two spots.
I hope that this covers questions that any may have.
TTYAL
Dasz