Sports venue's one special viewing area hosting Republican (5)

I believe the answer is:

ibrox

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'sports venue's' is the definition.
I know nothing about this answer so I can't judge whether it can be defined by this definition.

'one special viewing area hosting republican' is the wordplay.
'one' becomes 'i' (Roman numeral).
'special viewing area' becomes 'box' (I am not sure about this - if you are sure you should give a lot more credence to this answer).
'hosting' indicates putting letters inside (inserted letters are welcomed in or hosted).
'republican' becomes 'R' (political abbreviation).
'box' going around 'r' is 'brox'.
'i'+'brox'='IBROX'

Can you help me to learn more?

(Other definitions for ibrox that I've seen before include "Glasgow football ground" , "Scottish stadium" , "Park in Glasgow" , "Rangers FC stadium" .)

I've seen this clue in The Independent.

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