The most common and most likely answer to this crossword clue is the 7 letter word AGE-OLD
I've seen this crossword clue in The Guardian
A
G
E
-
O
L
D
More clues leading to the result AGE-OLD
- Energy put into singular achievement in games — like the Olympics
- Antique silver Eros lady displayed in odd locations
- Primeval energy found in American heavy metal
- Ancient American or English going inside
- Having done time, gaoled anew
- A ruined lodge that’s been around for centuries
- Historic end to race that’s brought in a winner’s award
- Ancient American lodge in ruins
- English wearing a winning medal is nothing new
- Heart of anthemion coated in a precious metal, ancient
Buddy explains!

The straight part
We know that "like the Olympics" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case like the olympics = age-old.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 AGE-OLD mean?
AGE-OLD adjective- Very old; having existed for a long time; ancient or well-established