Perhaps counters United being disqualified from event (5)
I believe the answer is:
discs
'perhaps counters' is the definition.
(disc can mean a counter or token)
'united being disqualified from event' is the wordplay.
'united' becomes 'u'.
'being disqualified from' is a deletion indicator.
'event' becomes 'discus' (athletics event).
'discus' with 'u' removed is 'DISCS'.
(Other definitions for discs that I've seen before include "Flat, circular plates" , "They're round and flat" , "Type of recordings" , "Flat, thin circular objects" , "Layers of cartilage between vertebrae - they may slip" .)