William Shakespeare entering Globe's promotional space (9)

'promotional space' is the definition.
Although both the answer and definition are singular nouns, I cannot understand how they can define each other.

'william shakespeare entering globe's' is the wordplay.
I cannot really see how this works, but
'william' could be 'bill' and 'bill' is located in the answer.
'globe' could be 'o' (O resembles a globe) and 'o' is found within the answer.
'shakespeare' could be 'bard' (Shakespeare is known as the Bard) and 'bard' is found in the leftover letters.
This accounts for all the letters.
This explanation may well be incorrect...

Can you help me to learn more?