First, you need to enable Rich Text Editor (RTE) for participation pages:
  1. Navigate to Fundraising, TeamRaiser
  2. Find the TeamRaiser in question, click Edit
  3. Click on Step 3. Select Event Options
  4. Scroll down and click on Edit Advanced Options
  5. Click on Step 3.c. Define Misc Options
  6. Scroll down to item 10. Rich Text Editor Available for Content in Participant Pages and select the appropriate boxes
  7. Click Save

To add links to the team page:
  1. Go back to the TeamRaiser list
  2. Find the TeamRaiser and click manage
  3. Click on the Teams tab
  4. Find the team and click Manage
  5. Click Edit Team Page
  6. Scroll down to the HTML section and build the link
  7. Click save

*Links can only be created in the HTML section, not the  "Team Description" section, which is the body of the page.