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Vacant place for the starting price of the winner? (5)

Ross

I believe the answer is:

space

I'm a little stuck... Click here to teach me more about this clue!

'vacant place' is the definition.
'space' can be an answer for 'place' (synonyms). I'm unsure of the 'vacant' bit.

'starting price of the winner?' is the wordplay.
I cannot quite understand how this works, but
'winner?' could be 'ace' and 'ace' is found in the answer.
'starting price' could be 'sp' (abbreviation in betting) and 'sp' is found within the answer.
No letters remain.
This may be the basis of the clue (or it may be nonsense).

'for the' is the link.

Can you help me to learn more?

(Other definitions for space that I've seen before include "Interstellar vacuum" , "Cosmos" , "-- Capsule; -- bar" , "Expanse" , "Unfilled region" .)

I've seen this clue in the Evening Standard.
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