I appreciate that team one's hailed (4)
I believe the answer is:
taxi
'one's hailed' is the definition.
(a taxi may be hailed)
'i appreciate that team' is the wordplay.
'i appreciate that' becomes 'ta' (informal way of saying thank you).
'team' becomes 'xi' (eleven, a football team).
'ta'+'xi'='TAXI'
(Other definitions for taxi that I've seen before include "Transport for hire" , "Move along a runway" , "people carrier?" , "Rank occupant" , "Part of fleet" .)