Noble king owing bags (4)
I believe the answer is:
duke
'noble' is the definition.
(I know that duke is a type of noble)
'king owing bags' is the wordplay.
'king' becomes 'k' (abbreviation for king in chess).
'owing' becomes 'due' (similar in meaning).
'bags' is an insertion indicator (bag can mean secures or steals).
'k' put within 'due' is 'DUKE'.
(Other definitions for duke that I've seen before include "- - Ellington (jazz musician)" , "Nobleman of the highest rank" , "Member of the nobility" , "Nickname of John Wayne" , "Highest ranked British peer" .)