Crossword Genius

Modest prize money denied entrant in fourth place (4)

Ross

I believe the answer is:

pure

I'm a little stuck... Click here to teach me more about this clue!

'modest' is the definition.
(thesaurus)

'prize money denied entrant in fourth place' is the wordplay.
I cannot really understand how this works, but
'money' could be 'p' and 'p' is found in the answer.
The remaining letters 'ure' is a valid word which might be clued in a way I don't understand.
This may be the basis of the clue (or it may be nonsense).

Can you help me to learn more?

(Other definitions for pure that I've seen before include "Unsoiled" , "Untainted" , "Virginal" , "Innocent, uncontaminated" , "Innocent; unsullied" .)

I've seen this clue in The Independent.
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