git team folder

I upgraded from 6.10 to 7.1.2. When I switch to XML format in the project settings I get a folder 'team' with tons of files and sub folders. It used to be 3 xml files in a folder called 'config'. What is really needed? What to put in the .gitignore file? I read in a similar post that there is a .gitignore file already. I couldn't find it.