Crossword Genius

Behind schedule and in the red, we're told (7)

Ross

I believe the answer is:

related

I'm a little stuck... Click here to teach me more about this clue!

'told' is the definition.
(as in relating a story)

'behind schedule and in the red we're' is the wordplay.
I cannot quite see how this works, but
'behind' could be 'late' (as in behind schedule) and 'late' is found in the answer.
'red' could be 'r' (I've seen this in other clues) and 'r' is found within the answer.
The remaining letters 'ed' is a valid word which might be clued in a way I don't understand.
This explanation may well be incorrect...

Can you help me to learn more?

(Other definitions for related that I've seen before include "Treadle (anag) - akin" , "within family" , "As siblings obviously are" , "spilled the beans" , "Told in detail, being connected" .)

I've seen this clue in the Evening Standard.
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