Very famous member's death (6)
I believe the answer is:
legend
'very famous member's death' is the definition.
(I've seen this before)
'member's death' is the wordplay.
'member' becomes 'leg' (I've seen this before).
'death' becomes 'end' ('end' can be a synonym of 'death').
'leg'+'end'='LEGEND'
(Other definitions for legend that I've seen before include "Traditional story; caption" , "Story from long ago" , "Key" , "Stanley Matthews, perhaps" , "Roger Federer, for example" .)