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Parting words for the elite (3,3,4)

Ross

I believe the answer is:

all the best

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'parting words for the elite' is the definition.
I can't judge whether this definition defines the answer.

'for the elite' is the wordplay.
'for' becomes 'allthe' (I can't explain this - if you can you should give a lot more credence to this answer).
'the elite' becomes 'best' (I've seen this in another clue).
'allthe'+'best'='ALL THE BEST'

Can you help me to learn more?

(Other definitions for all the best that I've seen before include "Without exception, unsurpassed" , "needing good luck!" , "flower, every bit of it?" , "every member of the elite?" , "A goodwill message" .)

I've seen this clue in The Irish Times.
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