Gathering it's a sporting event (7)
I believe the answer is:
meeting
'gathering' is the definition.
(I know that meeting is a type of social affair)
'a sporting event' is the wordplay.
'a sporting' becomes 'mee' (I can't explain this - if you can you should believe this answer much more).
'event' becomes 'ting' (ting is a kind of event).
'mee'+'ting'='MEETING'
'it's' acts as a link.
Can you help me to learn more?
(Other definitions for meeting that I've seen before include "Encountering" , "Conference" , "Formally arranged gathering" , "consultation" , "fixture" .)