Crossword Genius

Values Spain’s players in report (7)

Ross

I believe the answer is:

esteems

'values' is the definition.
('esteem' can be a synonym of 'value')

'spain's players in report' is the wordplay.
'spain's' becomes 'e's' (abbreviation for Espana).
'players' becomes 'teams' (sports teams).
'in report' indicates a 'sounds like' (homophone) clue (ie reportedly, \'we hear\').
'teams' is a homophone of 'teems'.
'es'+'teems'='ESTEEMS'

(Other definitions for esteems that I've seen before include "Regards highly" , "Treasures" , "Values highly" , "Prizes or admires" .)

I've seen this clue in The Independent.
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