Old king just character might you say? (7)

I believe the answer is:

pharaoh

I'm a little stuck... Click here to teach me more about this clue!

'old king' is the definition.
'pharaoh' can be an answer for 'king' (I've seen this before). I'm unsure of the 'old' bit.

I don't understand how the rest of the clue works.

Can you help me to learn more?

(Other definitions for pharaoh that I've seen before include "Ancient Egyptian ruler" , "Ancient king of Egypt" , "Ancient Egyptian king" , "Former Egyptian ruler" , "Now mummy" .)

I've seen this clue in The Sun.

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