You've asked in Multiple places, now.
https://quickbooks.intuit.com/community/Other-questions/User-Multi-Choice-List-Limit/m-p/213187#M568...
For this: "But this is where the issue of the custom fields comes into play because we still need to add the custom field with the team name to print it on invoices, pick tickets, POs, etc."
Here's the issue: that isn't what Custom Fields are used for. You are describing that you maintain in stock Actual Differentiated Products. That means Item Name needs to be detailed, or stop showing item Name and start putting better info into Description:
NFL:CHICAGO BEARS:UPC_CODE
Description = Micro-bat Chicago Bears
Or, you need to get a Point of Sale program. Intuit has a QB POS. What you asked is Retail Matrix.
"Another reason that we need the custom field is that if we view the inventory list in the hierarchical view then we only see UPC codes with the description unless we add in a custom column with our custom field for the League and Team Name."
Right Click Items list or Inventory Center items listing and select Customize Columns. Bring into your view what matters to you.
