The most common and most likely answer to this crossword clue is the 7 letter word RICHARD
I've seen this crossword clue in The Daily Telegraph
R
I
C
H
A
R
D
More clues leading to the result RICHARD
- Dick Tracy’s second in command gets tough
- This diminutive chap might be spotted at the dessert counter
- King free to eat fish
- Cliff right above entrance to idyllic Somerset town
- Cliff diver: “I’ve taken off backwards on wobbly chair”
- Queen in charge with powerful King, say
- Madrid regularly followed wealthy English king
- Lion-hearted ruler is free after getting burn
- English king with lots of money on a road
Buddy explains!

The straight part
We know that "King, say" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case king, say = richard.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.