If you are paying for the tickets from your own personal funds or from something such as a team booster club or the like, this is the way to go. However, if each passenger is paying for their own ticket, make certain that you are not stuck in the middle handling anybody's funds and that everyone knows exactly what happens if they drop out.
Depending on the group, even if there are small savings, it may be a lot easier to find the flights and then let everyone know that they need to go online and book their seat. That way, you are not the guy getting calls when someone gets sick or the reservation gets screwed up.
Group bookings are the end to a lot of good friendships.