Disastrous game in Oxford University Society (7)
I believe the answer is:
ruinous
'disastrous' is the definition.
(ruinous can mean disastrous or terrible)
'game in oxford university society' is the wordplay.
'game' becomes 'RU' (rugby union).
'oxford university' becomes 'OU'.
'society' becomes 's' (common abbreviation in names of organisations).
'ru'+'in'+'ou'+'s'='RUINOUS'
(Other definitions for ruinous that I've seen before include "Destructive and causing downfall" , "Devastating - dilapidated" , "Disastrous, destructive" , "Calamitous, crippling" , "Destructive; dilapidated" .)