Hide article held by King (7)
I believe the answer is:
leather
'hide' is the definition.
(thesaurus)
'article held by king' is the wordplay.
'article' becomes 'the' (the 'definite article' part of speech).
'held by' is an insertion indicator.
'king' becomes 'lear' (I've seen this before).
'the' inserted within 'lear' is 'LEATHER'.
(Other definitions for leather that I've seen before include "Material made from animal skin" , "Treated animal skin" , "Dressed hide" , "polish" , "Tanned animal hide" .)