Terribly bad one having Blanchett resign? (8)

I believe the answer is:

abdicate

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'resign?' is the definition.
(abdicating is a kind of resigning)

'terribly bad one having blanchett' is the wordplay.
'terribly' indicates anagramming the letters.
'one' becomes 'I' (Roman numeral).
'having' is a charade indicator (letters next to each other).
'blanchett' becomes 'cate' (I can't justify this - if you can you should believe this answer much more).
'bad' with letters rearranged gives 'abd'.
'abd'+'i'+'cate'='ABDICATE'

Can you help me to learn more?

(Other definitions for abdicate that I've seen before include "quit" , "Abandon" , "Give up power" , "Resign from or renounce the throne" , "step down" .)

I've seen this clue in The Sun.

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