Value English sporting events on reflection (6)
I believe the answer is:
esteem
'value' is the definition.
(I know that value can be written as esteem)
'english sporting events on reflection' is the wordplay.
'english' becomes 'e' (abbreviation).
'sporting events' becomes 'meets' (a meet is an event of races, contests etc).
'on reflection' is a reversal indicator.
'meets' backwards is 'steem'.
'e'+'steem'='ESTEEM'
(Other definitions for esteem that I've seen before include "Honour - regard" , "Favourable regard" , "Venerate" , "credit" , "High regard as for customer" .)