Crossword Genius

Not fancied or put forward? (8)

Ross

I believe the answer is:

unbacked

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'put forward?' is the definition.
Both the definition and answer are adjectives. Perhaps they are linked in a way I don't understand?

'not fancied' is the wordplay.
'not' becomes 'un' (prefix meaning 'not').
'fancied' becomes 'backed' (I can't justify this - if you can you should believe this answer much more).
'un'+'backed'='UNBACKED'

'or' acts as a link.

Can you help me to learn more?

I've seen this clue in The Times.
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