Threatened by people who have served winners (7)

I believe the answer is:

menaced

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'threatened' is the definition.
('menace' can be a synonym of 'threaten')

'people who have served winners' is the wordplay.
'people who' becomes 'men' (I can't justify this - if you can you should believe this answer much more).
'have' says to put letters next to each other.
'served winners' becomes 'aced' (I've seen this in another clue).
'men'+'aced'='MENACED'

'by' acts as a link.

Can you help me to learn more?

(Another definition for menaced that I've seen is " Threatened".)

I've seen this clue in the Sydney Morning Herald.

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