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Blunder overtakes someone running in circles, reportedly (5)

Ross

I believe the answer is:

lapse

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'blunder' is the definition.
(thesaurus)

'circles reportedly' is the wordplay.
'circles' becomes 'laps' ('lap' can be a synonym of 'circle').
'reportedly' becomes 'e' (I've seen this in other clues).
'laps'+'e'='LAPSE'

'overtakes someone running in' acts as a link.
This may not be correct. Some or all of it may be part of another bit of the clue.

Can you help me to learn more?

(Other definitions for lapse that I've seen before include "Slip, error" , "Brief decline from high standards" , "Brief failure (of concentration)" , "Brief failure of judgement" , "moral shortcoming" .)

I've seen this clue in The Independent.
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