Blending Options>Stroke

Take the Rectangle Tool (U) to draw a flare above the blue circle. Using the Free Transform option, try to turn over the layer, which color is #48CEFF

Hold on Alt button while making a mouse click between the blue circle’s layer and the flare (on the layers’ panel).

The layer’s parameters: Fill 80%

Applying the Custom Shape Tool (U) on this stage, it’s possible to draw a white pointer, but the Free Transform selection may help us to turn over the element as it is shown next picture.

The layer’s parameters: Blending Options>Outer Glow

Write the inscription that would contain the club’s name. The text should look inclined a little and it is possible to get this result with Free Transform option.