The most common and most likely answer to this crossword clue is the 9 letter word EDUCATORS
I've seen this crossword clue in Financial Times
E
D
U
C
A
T
O
R
S
More clues leading to the result EDUCATORS
Buddy explains!

The straight part
We know that "Dons" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case dons = educators.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 EDUCATORS mean?
EDUCATORS noun- A person distinguished for his/her educational work, a teacher.