How is champion busting an LP? (8,1,6)

I believe the answer is:

breaking a record

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'how is champion' is the definition.
I can't tell whether this definition defines the answer.

'busting an lp?' is the wordplay.
'busting' becomes 'breaking' ('break' can be a synonym of 'bust').
'an' becomes 'a'.
'lp?' becomes 'record' (lp is a kind of record).
'breaking'+'a'+'record'='BREAKING A RECORD'

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

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