The most common and most likely answer to this crossword clue is the 9 letter word MANHATTAN
I've seen this crossword clue in Financial Times
M
A
N
H
A
T
T
A
N
More clues leading to the result MANHATTAN
- Headgear secured by male volunteers finally on island
- Island fellow with headgear of yellowish-brown colour
- Island fellow with headgear of yellowy-brown colour
- Guy that mixed a new cocktail
- Male bowler, for one brief time on an island
- Guy Busby-Brown makes cocktail
- Island that developed a new cocktail?
- Servant that’s mixed a new cocktail
- Piece covering brown cocktail
- Guy Busby-Brown making this cocktail?
Buddy explains!

The straight part
We know that "cocktail" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case cocktail = manhattan.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 MANHATTAN mean?
MANHATTAN noun- A cocktail made from whiskey, sweet vermouth and bitters.
- A bar chart representing the number of runs scored each over (supposed to resemble a skyline of skyscrapers).