Over half of football team holding up used bum bag (7)

I believe the answer is:

satchel

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'bag' is the definition.
(satchel is a type of bag)

I can't explain the rest of the clue.

(Other definitions for satchel that I've seen before include "Schoolbag found in chalets" , "Bag for school books" , "Schoolbag for children's books" , "Shoulder bag as for schoolbooks" , "Bag -- latches (anag)" .)

I've seen this clue in The Independent.

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