Crossword Genius

Weird Times leader was speculated about (8)

Ross

I believe the answer is:

rumoured

'was speculated about' is the definition.

'weird times leader' is the wordplay.
I cannot really see how this works, but
'weird' could be 'rum' (I've seen this before) and 'rum' is present in the answer.
'leader' could be 'red' (red is a kind of leader) and 'red' is found in the answer.
The remaining letters 'ou' is a valid word which might be clued in a way I don't understand.
This explanation may well be incorrect...

(Other definitions for rumoured that I've seen before include "said to be lacking authority" , "it's said (in a gossipy way)" , "Reported" , "(Of gossip) in circulation" , "Circulating, but unverified" .)

I've seen this clue in The Times.
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