Speed around large venue (5)
I believe the answer is:
place
'venue' is the definition.
(I've seen this before)
'speed around large' is the wordplay.
'speed' becomes 'pace' (pace is a kind of speed).
'around' is an insertion indicator.
'large' becomes 'L' (eg in clothes sizes).
'pace' placed around 'l' is 'PLACE'.
(Other definitions for place that I've seen before include "Locate" , "Locus" , "Site" , "Scene; put" , "Locality" .)