Magnificent run out set recalled (5)
I believe the answer is:
royal
'magnificent' is the definition.
(I've seen this before)
'run out set recalled' is the wordplay.
'run out' becomes 'RO' (cricket abbreviation).
'set' becomes 'lay' (both can mean to place something).
'recalled' says the letters should be written in reverse (to recall can mean to bring something back).
'lay' reversed gives 'yal'.
'ro'+'yal'='ROYAL'
(Other definitions for royal that I've seen before include "Excellent" , "This blue is deep and vivid" , "Regal, majestic," , "With kingly status" , "Sort of jelly, flush or blue" .)