How to transfer ownership of a team project?

I have a Figma project under my team that I need to transfer the ownership of to a different team. At present, two members of that other team are on my plan and after transferring the ownership, we want to stop paying for them.

Open share menu and change permissions from “can edit” or “can view” to “owner”

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We have Figma files for that particular project under a team project. I don’t see a way to transfer an entire project to someone else.

We got charged for the last two months while the ownership of individual files was already transferred to the other team.

Oh, sorry, not sure if you can transfer a whole project

I don’t understand this either. All I can select is can view and can edit there is no such thing as “owner”

@tejas1, @launchpad_creative, are you the owners of the projects you want to transfer? Only the current owner of the project can transfer ownership.

Relevant article from Help Center: