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District record broken by bit of a swimmer, a competitor as yet unbeaten? (7-8)

Ross

I believe the answer is:

quarter-finalist

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'swimmer a competitor as yet unbeaten?' is the definition.
I can't tell whether this definition defines the answer.

'district record broken by bit of a' is the wordplay.
I cannot quite see how this works, but
'district' could be 'quarter' (quarter is a kind of district) and 'quarter' is found within the answer.
'record' could be 'list' (list is a type of record) and 'list' is located in the answer.
'bit' could be 'i' (resembles 1, a binary digit or bit) and 'i' is found within the answer.
'a' is within the answer.
This explanation may well be incorrect...

Can you help me to learn more?

I've seen this clue in The Telegraph.
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