Beef team gets medal for second place (10)

I believe the answer is:
silverside
'beef' is the definition.
(I've seen this before)
'team gets medal for second place' is the wordplay.
I cannot really see how this works, but
'team' could be 'side' (both can mean a sports team) and 'side' is present in the answer.
'second' could be 'silver' (I've seen this before) and 'silver' is located in the answer.
This accounts for all the letters.
This may be the basis of the clue (or it may be nonsense).
Can you help me to learn more?
(Other definitions for silverside that I've seen before include "Crown of a round of beef cut from the leg" , "Joint" , "Cut of meat" , "piece of meat" .)
