Why wont the textbox's text be the name of the team?

I made a script that is activated by pressing a button, then it adds a team with the same name as the text in a text button, however, everything works except the name, when I hit the button, the team is added, turned blue, but doesnt have a name.

local teamservice = game:GetService("Teams")

game.ReplicatedStorage.Events.TeamAddedEvent.OnServerEvent:Connect(function()
	local text = game.StarterGui.Editor.CreateTerritory.TextButton.TextBox
	local newteam = Instance.new("Team",teamservice)
	newteam.Name = text.Text
	newteam.TeamColor = BrickColor.new("Bright bluish green")
end)

You've got the right idea but if anything you'd have to FireClient (as well as adding it to the StarterGui) to add it to the PlayerGui too.

-- Client
local Button = script.Parent -- obviously relocate this to your button
local Players = gameGetService('Players')
local Player = Players.Player
local replicatedStorage = game:GetService('ReplicatedStorage')
local teamEvent = replicatedStorage.Events.TeamAddedEvent

Button.MouseButton1Click:Connect(function()
	-- you can use this dicationary to add more info on the team later on if you want
	local teamInfo = {
		teamName = teamName.Text -- obviously relocate to your textbox
	}
	teamEvent:FireServer(teamInfo)
end)

teamEvent.OnClientEvent:Connect(function(Team)
	-- with this you can update the UI for all players, keep in mind you sent over the actual team so all properties about the class can be seen here too, color, name, etc
	local newTeamButton = Instance.new('TextButton')
	newTeamButton.Parent = Player.PlayerGui.UI -- change this to your ui parent obviously
	-- more properties here :)
end)

Then from here, connect to the Server.

-- Server
local teamService = game:GetService('TeamService')
local replicatedStorage = game:GetService('ReplicatedStorage')
local teamEvent = replicatedStorage.Events.TeamAddedEvent

teamEvent.OnServerEvent:Connect(function(Player, teamInfo)
	local newTeam = Instance.new('Team')
	newTeam.Parent = teamService
	newTeam.Name = teamInfo.teamName
	-- you should add a check here for a random team color generator for a team color that isn't taken
	newTeam.TeamColor = BrickColor.new("Bright bluish green")
	teamEvent:FireAllClients(newTeam) -- fire back to all the clients
end) -- OnServerEvent

use text:GetPropertyChangedSignal("Text") instead of text.Text