Clue: Waxes lyrical: "incredible Zico", initially turning Italy — a name supporters embrace (10)
Answer: BRAZILIANS
Explanation: Definition: Waxes
First letters of Lyrical Incredible Zico, reversed + I[taly] + A N[ame] in (embraced by) BRAS (supporters). As a sports ignoramus I'd never heard of him, but there is a former Brazilian footballer known by the nickname Zico.