The dude wasn't even asking about having 48 teams in-game.
There is a 32 teams limit in the team file. You can't create more than that amount. This is a limitation of the file format that cannot be bypassed at the moment. Although you could keep multiple User\Teams\WG.WGT files, each with its set of 32 teams. But you won't be able to swap them without quitting the game first.