"Unready" English king (8)

I believe the answer is:

ethelred

(Other definitions for ethelred that I've seen before include "Alfred the Great's brother and predecessor, d. 871 -- the elder (anag)" , "English king between nine hundred and seventy-eight and ten hundred and sixteen" , ""Unready" English king" , "Baleen used to stiffen corsets, etc" , "Unready monarch" .)

I've seen this clue in the Penny Press.

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