Virtue of good competition (5)
I believe the answer is:
grace
'virtue' is the definition.
(thesaurus)
'good competition' is the wordplay.
'good' becomes 'g' (abbreviation).
'competition' becomes 'race' (race is a kind of competition).
'g'+'race'='GRACE'
'of' acts as a link.
(Other definitions for grace that I've seen before include "Elegance; blessing" , "Comeliness" , "'Amazing - - '" , "Old batsman" , "34 [CRICKETER]" .)