Team calls party organised “fantastic!” (7,6)
I believe the answer is:
crystal palace
'team' is the definition.
(football team)
'calls party organised fantastic' is the wordplay.
'organised' is an anagram indicator.
'fantastic' becomes 'ace' (ace can informally mean very good).
'calls'+'party'='callsparty'
'callsparty' anagrammed gives 'crystalpal'.
'crystalpal'+'ace'='CRYSTAL PALACE'
(Other definitions for crystal palace that I've seen before include "Footballers" , "Former London landmark" , "London football club" , "South London football team - building housing the 1851 Great Exhibition" , "Paxton's creation for the Great Exhibition, 1851" .)