The deal now being negotiated is shabby (4-2-4)
I believe the answer is:
down-at-heel
'shabby' is the definition.
(I've seen this before)
'the deal now being negotiated' is the subsidiary indication.
'being negotiated' indicates anagramming the letters.
'the'+'deal'+'now'='thedealnow'
'thedealnow' anagrammed gives 'downatheel'.
'is' is the link.
(Other definitions for down-at-heel that I've seen before include "Looking shabby" , "In poor circumstances" , "Generally shabby" , "Having a poor, shabby appearance" .)