Cricket trophy presented after 500 runs (6)
I believe the answer is:
dashes
'runs' is the definition.
(dashing is a kind of running)
'cricket trophy presented after 500' is the wordplay.
I cannot quite see how this works, but
'trophy' could be 'ashes' (I've seen this before) and 'ashes' is located in the answer.
'500' could be 'd' (Roman numeral for 500) and 'd' is present in the answer.
This accounts for all the letters.
This explanation may well be incorrect...
Can you help me to learn more?
(Other definitions for dashes that I've seen before include "Runs fast with shades" , "Long signals in Morse code" , "Strokes" , "hares" , "Quick run or sudden rush" .)