Sport's governing body invested in game - it ought to be playable (7)
I believe the answer is:
piccolo
'it ought to be playable' is the definition.
The definition suggests a singular noun which matches the answer.
'sport's governing body invested in game' is the wordplay.
'sport's governing body' becomes 'icc' (I am not sure about this - if you are sure you should give a lot more credence to this answer).
'invested in' indicates putting letters inside.
'game' becomes 'polo' (polo is a kind of game).
'icc' going within 'polo' is 'PICCOLO'.
Can you help me to learn more?
(Other definitions for piccolo that I've seen before include "Musical instrument - little (Italian)" , "Part of 14 [ORCESTRA]" , "Small high-pitched flute" , "Instrument (meaning "little")" , "Little flute" .)