Team less expensive than Palace? (5)

I believe the answer is:

villa

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'team' is the definition.
(Aston Villa FC)

I don't understand how the remainder of the clue works.

(Other definitions for villa that I've seen before include "SECOND PART OF 8" , "A place in the country" , "Roman domicile" , "See 3" , "Country house (in Aston?)" .)

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