Equestrian affair venerated, they fancy (5-3,5)
I believe the answer is:
three-day event
'equestrian affair' is the definition.
The definition and answer can be both related to natural events as well as being singular nouns.
Perhaps there's a link between them I don't understand?
'venerated they fancy' is the wordplay.
'fancy' is an anagram indicator.
'venerated'+'they'='veneratedthey'
'veneratedthey' anagrammed gives 'THREE-DAY EVENT'.
Can you help me to learn more?
(Other definitions for three-day event that I've seen before include "Horse-riding competition" , "Equestrian competition involving several skills" , "Equestrian competition comprising several disciplines" , "Dressage, cross-country and showjumping" .)