Cryptic crossword clue
Clubs say accepting racket is giving up 6

The most common and most likely answer to this crossword clue is the 6 letter word CEDING

I've seen this crossword clue in Financial Times
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Buddy explains!

The straight part
We know that "giving up" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case giving up = ceding.
The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.
This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.

What does CEDING mean?

CEDING verb
  1. To give up; yield to another.
  2. To give way.

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