Crossword Genius

Level time in race perhaps (5)

Ross

I believe the answer is:

event

'race perhaps' is the definition.
(race is a kind of event)

'level time' is the wordplay.
'level' becomes 'even' (similar in meaning).
'time' becomes 't' (abbreviation).
'even'+'t'='EVENT'

'in' acts as a link.

(Other definitions for event that I've seen before include "Episode" , "'Occurrence, happening (5)'" , "'Occurrence, occasion (5)'" , "Sporting contest" , "Something happening" .)

I've seen this clue in The Times.
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