Stage drama at last before players collectively resign (5,5)
I believe the answer is:
stand aside
'resign' is the definition.
(thesaurus)
'stage drama at last before players collectively' is the wordplay.
'stage' becomes 'stand' (both can mean a raised platform).
'at last' suggests the final letters.
'before' says to put letters next to each other.
'players collectively' becomes 'side' (eg a football side).
The final letter of 'drama' is 'a'.
'stand'+'a'+'side'='STAND ASIDE'
(Other definitions for stand aside that I've seen before include "look on indifferently" , "Allow another to take charge - let me through!" , "Take no action to prevent something happening" .)