Produce, in the fight arena (5,3)
I believe the answer is:
bring out
'produce' is the definition.
(synonyms)
'in the fight arena' is the wordplay.
'in' means one lot of letters goes inside another.
'the fight' becomes 'bout' ('bout' can be a synonym of 'fight').
'arena' becomes 'ring' (I've seen this in another clue).
'bout' placed around 'ring' is 'BRING OUT'.
(Other definitions for bring out that I've seen before include "Elicit" , "Emphasize (a feature)" , "Issue" , "Unveil" , "Publish" .)