Observe those completing races before me (3)

I believe the answer is:

see

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'observe' is the definition.
(observe can mean to see something)

I cannot understand how the rest of the clue works.

(Other definitions for see that I've seen before include "Set eyes on" , "Go out with; notice" , "responsibility of a bishop" , "Visit" , "Norwich, for example" .)

I've seen this clue in The Times.

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