Loop around in sport (4)
I believe the answer is:
polo
'sport' is the definition.
(polo is a kind of sport)
'loop around' is the wordplay.
'around' indicates anagramming the letters.
'loop' anagrammed gives 'POLO'.
'in' is the link.
(Other definitions for polo that I've seen before include "It's played in water and on horseback" , "Team game - VW" , "Game played on horses or in water" , "Ball game played on horseback" , "Horsey ball game" .)