Space and opportunity to replace Henry with tragic king (9)
I believe the answer is:
clearance
'space' is the definition.
(clearance is a kind of space)
'and opportunity to replace henry with tragic king' is the wordplay.
I cannot really understand how this works, but
'and' could be 'n' (common abbreviation for 'and') and 'n' is located in the answer.
'king' could be 'lear' (I've seen this before) and 'lear' is found in the answer.
This explanation may well be incorrect...
(Other definitions for clearance that I've seen before include "Removing ball from defensive area" , "demolition" , "Eviction from lands" , "evacuation" , "Permission to proceed" .)