Sport in need of capital, yet to pay (5)

I believe the answer is:

owing

'yet to pay' is the definition.

'sport in need of capital' is the wordplay.
'sport' becomes 'rowing' (rowing is a kind of sport).
'in need of capital' means to remove the first letter (initial capital letter missing).
'rowing' with its first letter taken off is 'OWING'.

(Other definitions for owing that I've seen before include "Unsettled; on account" , "Still outstanding" , "Undischarged" , "Due to, like debt" , "(Of money) outstanding" .)

I've seen this clue in The Telegraph.

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