Magnificent rowing team picked up famous wine (5,3)
I believe the answer is:
grand cru
'famous wine' is the definition.
(prestigious wine classification)
'magnificent rowing team picked up' is the wordplay.
'magnificent' becomes 'grand' (I've seen this before).
'rowing team' becomes 'crew' (as in a rowing crew).
'picked up' indicates a 'sounds like' (homophone) clue.
'crew' sounds like 'cru'.
'grand'+'cru'='GRAND CRU'
(Other definitions for grand cru that I've seen before include "Superior wine" , "special wine" , "fine wine" , "A wine of the best grade" , "Type of wine" .)