The most logical conclusion to the story, considering the theme of good sportsmanship, would be:
Nell exposes the lie and proves that Hamish is innocent, allowing the friends to compete against each other.
This outcome emphasizes the importance of integrity and sportsmanship, as Nell prioritizes justice and fairness over personal gain. By standing up for her friend and ensuring that the competition is based on merit, she exemplifies the values of a true sportsman.