Outstanding oarsmanship won't be topped (5)

I believe the answer is:

owing

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'outstanding' is the definition.
(an outstanding bill is still owing)

I don't understand how the rest of the clue works.

Can you help me to learn more?

(Other definitions for owing that I've seen before include "This debt has yet to be paid" , "Undischarged" , "Still outstanding" , "Unsettled; on account" , "(Of money) outstanding" .)

I've seen this clue in The Times.

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