Assuming the list will always be sorted in order (best to worst):
<b>Excel 2003</b><table cellpadding="2.5px" rules="all" style=";background-color: #FFFFFF;border: 1px solid;border-collapse: collapse; border-color: #A6AAB6"><colgroup><col width="25px" style="background-color: #E0E0F0" /><col /><col /><col /><col /><col /></colgroup><thead><tr style=" background-color: #E0E0F0;text-align: center;color: #161120"><th></th><th>A</th><th>B</th><th>C</th><th>D</th><th>E</th></tr></thead><tbody><tr ><td style="color: #161120;text-align: center;">11</td><td style="font-weight: bold;;">Team</td><td style="font-weight: bold;;">Athlete</td><td style="font-weight: bold;;">Long Jump</td><td style="font-weight: bold;;">A</td><td style="font-weight: bold;;">B</td></tr><tr ><td style="color: #161120;text-align: center;">12</td><td style=";">East</td><td style=";">John</td><td style="text-align: right;;">7.65</td><td style="text-align: right;;">1</td><td style=";"></td></tr><tr ><td style="color: #161120;text-align: center;">13</td><td style=";">East</td><td style=";">Jack</td><td style="text-align: right;;">7.54</td><td style=";"></td><td style="text-align: right;;">1</td></tr><tr ><td style="color: #161120;text-align: center;">14</td><td style=";">South</td><td style=";">Ben</td><td style="text-align: right;;">6.65</td><td style="text-align: right;;">2</td><td style=";"></td></tr><tr ><td style="color: #161120;text-align: center;">15</td><td style=";">West</td><td style=";">Pete</td><td style="text-align: right;;">4.56</td><td style="text-align: right;;">3</td><td style=";"></td></tr><tr ><td style="color: #161120;text-align: center;">16</td><td style=";">West</td><td style=";">Dave</td><td style="text-align: right;;">4</td><td style=";"></td><td style="text-align: right;;">2</td></tr><tr ><td style="color: #161120;text-align: center;">17</td><td style=";">South</td><td style=";">Sam</td><td style="text-align: right;;">3.32</td><td style=";"></td><td style="text-align: right;;">3</td></tr><tr ><td style="color: #161120;text-align: center;">18</td><td style=";">Central</td><td style=";">Tom</td><td style="text-align: right;;">2.99</td><td style="text-align: right;;">4</td><td style=";"></td></tr><tr ><td style="color: #161120;text-align: center;">19</td><td style=";">Central</td><td style=";">James</td><td style="text-align: right;;">2.34</td><td style=";"></td><td style="text-align: right;;">4</td></tr></tbody></table><p style="width:3.6em;font-weight:bold;margin:0;padding:0.2em 0.6em 0.2em 0.5em;border: 1px solid #A6AAB6;border-top:none;text-align: center;background-color: #E0E0F0;color: #161120">Sheet2</p><br /><br /><table width="85%" cellpadding="2.5px" rules="all" style=";border: 2px solid black;border-collapse:collapse;padding: 0.4em;background-color: #FFFFFF" ><tr><td style="padding:6px" ><b>Worksheet Formulas</b><table cellpadding="2.5px" width="100%" rules="all" style="border: 1px solid;text-align:center;background-color: #FFFFFF;border-collapse: collapse; border-color: #A6AAB6"><thead><tr style=" background-color: #E0E0F0;color: #161120"><th width="10px">Cell</th><th style="text-align:left;padding-left:5px;">Formula</th></tr></thead><tbody><tr><th width="10px" style=" background-color: #E0E0F0;color: #161120">D12</th><td style="text-align:left">=IF(<font color="Blue">$C12>=SUMIF(<font color="Red">$A$12:$A$19,$A12,$C$12:$C$19</font>)/2,1,""</font>)</td></tr><tr><th width="10px" style=" background-color: #E0E0F0;color: #161120">E12</th><td style="text-align:left">=IF(<font color="Blue">$C12<=SUMIF(<font color="Red">$A$12:$A$19,$A12,$C$12:$C$19</font>)/2,1,""</font>)</td></tr><tr><th width="10px" style=" background-color: #E0E0F0;color: #161120">D13</th><td style="text-align:left">=IF(<font color="Blue">$C13>=SUMIF(<font color="Red">$A$12:$A$19,$A13,$C$12:$C$19</font>)/2,MAX(<font color="Red">D$12:D12</font>)+1,""</font>)</td></tr><tr><th width="10px" style=" background-color: #E0E0F0;color: #161120">E13</th><td style="text-align:left">=IF(<font color="Blue">$C13<=SUMIF(<font color="Red">$A$12:$A$19,$A13,$C$12:$C$19</font>)/2,MAX(<font color="Red">E$12:E12</font>)+1,""</font>)</td></tr><tr><th width="10px" style=" background-color: #E0E0F0;color: #161120">D14</th><td style="text-align:left">=IF(<font color="Blue">$C14>=SUMIF(<font color="Red">$A$12:$A$19,$A14,$C$12:$C$19</font>)/2,MAX(<font color="Red">D$12:D13</font>)+1,""</font>)</td></tr><tr><th width="10px" style=" background-color: #E0E0F0;color: #161120">E14</th><td style="text-align:left">=IF(<font color="Blue">$C14<=SUMIF(<font color="Red">$A$12:$A$19,$A14,$C$12:$C$19</font>)/2,MAX(<font color="Red">E$12:E13</font>)+1,""</font>)</td></tr><tr><th width="10px" style=" background-color: #E0E0F0;color: #161120">D15</th><td style="text-align:left">=IF(<font color="Blue">$C15>=SUMIF(<font color="Red">$A$12:$A$19,$A15,$C$12:$C$19</font>)/2,MAX(<font color="Red">D$12:D14</font>)+1,""</font>)</td></tr><tr><th width="10px" style=" background-color: #E0E0F0;color: #161120">E15</th><td style="text-align:left">=IF(<font color="Blue">$C15<=SUMIF(<font color="Red">$A$12:$A$19,$A15,$C$12:$C$19</font>)/2,MAX(<font color="Red">E$12:E14</font>)+1,""</font>)</td></tr><tr><th width="10px" style=" background-color: #E0E0F0;color: #161120">D16</th><td style="text-align:left">=IF(<font color="Blue">$C16>=SUMIF(<font color="Red">$A$12:$A$19,$A16,$C$12:$C$19</font>)/2,MAX(<font color="Red">D$12:D15</font>)+1,""</font>)</td></tr><tr><th width="10px" style=" background-color: #E0E0F0;color: #161120">E16</th><td style="text-align:left">=IF(<font color="Blue">$C16<=SUMIF(<font color="Red">$A$12:$A$19,$A16,$C$12:$C$19</font>)/2,MAX(<font color="Red">E$12:E15</font>)+1,""</font>)</td></tr><tr><th width="10px" style=" background-color: #E0E0F0;color: #161120">D17</th><td style="text-align:left">=IF(<font color="Blue">$C17>=SUMIF(<font color="Red">$A$12:$A$19,$A17,$C$12:$C$19</font>)/2,MAX(<font color="Red">D$12:D16</font>)+1,""</font>)</td></tr><tr><th width="10px" style=" background-color: #E0E0F0;color: #161120">E17</th><td style="text-align:left">=IF(<font color="Blue">$C17<=SUMIF(<font color="Red">$A$12:$A$19,$A17,$C$12:$C$19</font>)/2,MAX(<font color="Red">E$12:E16</font>)+1,""</font>)</td></tr><tr><th width="10px" style=" background-color: #E0E0F0;color: #161120">D18</th><td style="text-align:left">=IF(<font color="Blue">$C18>=SUMIF(<font color="Red">$A$12:$A$19,$A18,$C$12:$C$19</font>)/2,MAX(<font color="Red">D$12:D17</font>)+1,""</font>)</td></tr><tr><th width="10px" style=" background-color: #E0E0F0;color: #161120">E18</th><td style="text-align:left">=IF(<font color="Blue">$C18<=SUMIF(<font color="Red">$A$12:$A$19,$A18,$C$12:$C$19</font>)/2,MAX(<font color="Red">E$12:E17</font>)+1,""</font>)</td></tr><tr><th width="10px" style=" background-color: #E0E0F0;color: #161120">D19</th><td style="text-align:left">=IF(<font color="Blue">$C19>=SUMIF(<font color="Red">$A$12:$A$19,$A19,$C$12:$C$19</font>)/2,MAX(<font color="Red">D$12:D18</font>)+1,""</font>)</td></tr><tr><th width="10px" style=" background-color: #E0E0F0;color: #161120">E19</th><td style="text-align:left">=IF(<font color="Blue">$C19<=SUMIF(<font color="Red">$A$12:$A$19,$A19,$C$12:$C$19</font>)/2,MAX(<font color="Red">E$12:E18</font>)+1,""</font>)</td></tr></tbody></table></td></tr></table><br />
If the list needs to be sorted otherwise, that's a tough nut to crack. RANK() doesn't work with Array Formulas.
This also will only work if two members from the same team aren't tied (if they are, you'll get the same guy in both lists), and assumes that there will always be only 2 people from each team.