Crossword Genius

George Grant, carrying South African cash, defeated in sports facility (10)

Ross

I believe the answer is:

grandstand

I'm a little stuck... Click here to teach me more about this clue!

'defeated in sports facility' is the definition.
The answer and definition can be both man-made objects as well as being singular nouns.
Perhaps they are linked in a way I don't understand?

'george grant carrying south african cash' is the wordplay.
'george' becomes 'g'.
'grant' becomes 'stand' (I am not sure about this - if you are sure you should give a lot more credence to this answer).
'carrying' is a charade indicator (letters next to each other) (in a down clue, the bottom letters carry others).
'south african cash' becomes 'rand' (I've seen this in another clue).
'stand' put after 'rand' is 'randstand'.
'g'+'randstand'='GRANDSTAND'

Can you help me to learn more?

(Other definitions for grandstand that I've seen before include "Racecourse building" , "Main structure for watching sporting events" , "Play to the audience" , "Show off in America" , "From which spectators watch" .)

I've seen this clue in the Sydney Morning Herald.
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