Long time with new leader (5)
I believe the answer is:
yearn
'long' is the definition.
('yearn' can be a synonym of 'long')
'time with new leader' is the wordplay.
'time' becomes 'year' (I've seen this before**).
'with' says to put letters next to each other.
'leader' suggests taking the first letters.
The initial letter of 'new' is 'n'.
'year'+'n'='YEARN'
(Other definitions for yearn that I've seen before include "Ache, crave" , "Pant - pine" , "Desire, want" , "Have a great longing" , "Have strong desire" .)