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The previous reply is correct. To elaborate, teams are groups of players who work together to breed top GP horses. Each team has a "team affix" which is applied to horses bred in that team that qualify. The team affix will show beneath your horse's name, and you can click on it. Teams have a "Maximum sales GP" which means that horses bearing the team affix whose GP exceeds the number cannot be sold or bred outside of the team. What happened is that the Max Sales GP was higher when you purchased your horse, and after your purchase the team lowered the Max Sales GP to be lower than YOUR horse's GP, thus rendering it useless because now you can no longer breed or sell it since you are not part of the team.

It's an awful mechanic that Howrse claims is "working as intended" when tickets are submitted. You can always reach out to the team admin and ask them to raise it so you can sell or buy back the horse. This works for me most of the time.

Unfortunately, Howrse made a terrible decision to allow adjustments made by a team to affect horses previously sold to other players, meaning when you buy a horse from a team, the horse is still at risk of being changed to unbreedable even after you purchase it and it becomes yours, if the team decides to change their maximum sales GP to below your horse's GP.