Hanging pawn's last after sharp champion (7)

I believe the answer is:

curtain

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'hanging' is the definition.
(thesaurus)

'pawn's last after sharp champion' is the wordplay.
'last' says to take the final letters.
'after' means one lot of letters go next to another.
'sharp' becomes 'curt' (I've seen this in another clue).
'champion' becomes 'ai' (I can't justify this - if you can you should give a lot more credence to this answer).
The last letter of 'pawn' is 'n'.
'curt'+'ai'='curtai'
'n' put after 'curtai' is 'CURTAIN'.

Can you help me to learn more?

(Other definitions for curtain that I've seen before include "Stage concealer" , "It can be drawn" , "Final instruction of play" , "Cover for window etc" , "Window drape" .)

I've seen this clue in The Telegraph.

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