Relegated, Tom's upset indeed (7)
I believe the answer is:
demoted
'relegated' is the definition.
('demote' can be a synonym of 'relegate')
'tom's upset indeed' is the wordplay.
I cannot really see how this works, but
an anagram of 'tom' is 'mot' which is present in the answer.
The remaining letters 'deed' is a valid word which might be clued in a way I don't see.
This may be the basis of clue (or it may be nonsense).
Can you help me to learn more?
(Other definitions for demoted that I've seen before include "Downgraded" , "Put down in rank" , "Relegated" , "Slippery fish" , "Reduced in rank" .)