Admire Ali's electrifying boxing effect (7)
I believe the answer is:
realise
'effect' is the definition.
(I've seen this before)
'admire ali's electrifying boxing' is the wordplay.
'boxing' indicates the answer is hidden within the clue (the solution is contained or boxed up by the clue).
'REALISE' can be found hidden inside 'admire alis electrifying'.
(Other definitions for realise that I've seen before include "appreciate" , "Ears lie (anag.)" , "Comprehend and convert into money" , "Understand - cash in" , "Tumble" .)