Bubble Team
A team on the edge of qualifying for a tournament
Example
Do you think our team will make it into the tournament this year?
We're definitely a bubble team. We need to win these next few games to secure our spot
Bubble team definition by Slang.net - The Slang Dictionary
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A "bubble team" is a sports team on the borderline of qualifying for a major tournament. In this context, "bubble" refers to the teams that are already in the tournament, and the teams close to making it but not yet guaranteed entry are the bubble teams. And the bubble teams' inclusion in the tournament largely depends on their performance in the final games of the regular season or conference tournaments.
Sports analysts, fans, and commentators often use the term when discussing college basketball or football teams trying to land a spot in the NCAA Tournament. For example, college basketball analysts during March Madness may discuss bubble teams in different conferences and who has the best chance to secure a bid.