Specially dear person: likely winner (9)

I believe the answer is:

favourite

I'm a little stuck... Click here to teach me more about this clue!

'specially dear person' is the definition.
'favourite' can be an answer for 'person' (favourite is a kind of person). I'm unsure of the 'specially dear' bit.

I don't understand the remainder of the clue.

Can you help me to learn more?

(Other definitions for favourite that I've seen before include "Beloved pet" , "that attracts lots of money" , "Preferred" , "Most liked" , "royal confidant" .)

I've seen this clue in The Sun.

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