What does the cryptic crossword clue "Sporting arena receiving account of sport (6)" mean?

The definition is "sport". The wordplay uses charade, container. RING (synonym of "arena") + AC (synonym of "account") [container: "receiving"]; definition: "sport" The answer is RACING.

Sporting arena receiving account of sport (6)

Guardian Cryptic #25314 | 22 Down | 2011-05-05 flower

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