Invigorating British sport (7)
I believe the answer is:
bracing
'invigorating' is the definition.
(similar in meaning)
'british sport' is the wordplay.
'british' becomes 'b' (abbreviation e.g. in 'BBC').
'sport' becomes 'racing' (racing is a kind of sport).
'b'+'racing'='BRACING'
(Other definitions for bracing that I've seen before include "Strengthening; fresh" , "Cold" , "Imparting vitality" , "Refreshing" , "form of support" .)