Maybe Melbourne squad owning guts (3)
I believe the answer is:
uni
'maybe melbourne' is the definition.
I can't judge whether this defines the answer.
'squad owning guts' is the wordplay.
'squad' becomes 'u' (I am not sure about this - if you are sure you should believe this answer much more).
'guts' indicates the central letters (the insides of the word).
The centre of 'owning' is 'ni'.
'u'+'ni'='UNI'
Can you help me to learn more?
(Other definitions for uni that I've seen before include "Where you can study" , "Reading is one" , "University (abbreviation)" , "Third-level college, in short" , "Queen's, Belfast, for example" .)