The Daniel Levy period at Tottenham Hotspur is formally over. After nearly 25 years as executive chairman, Levy has stepped down, closing a chapter that redefined the membership off, however not a lot on, the pitch. Appointed in 2001 following ENIC’s takeover, Levy presided over Spurs’ transformation from Premier League mid-table regulars into one in all Europe’s most commercially highly effective golf equipment.
Beneath his management, Tottenham moved right into a state-of-the-art £1.2billion stadium, persistently certified for European soccer, and attracted a world fanbase. But regardless of these simple enterprise achievements, frustration amongst supporters has steadily grown over time.
Chants of “Levy out” turned a well-recognized soundtrack on the Tottenham Hotspur Stadium in latest seasons, and his place in the end turned untenable. Why did followers flip in opposition to the person who made Spurs a monetary big? And what does his departure imply for the way forward for the membership?
Levy’s Downfall
For Tottenham followers, Levy’s reign turned outlined not by what was achieved, however by what wasn’t. Regardless of the membership’s monetary progress, trophies remained painfully scarce. In 23 years as chairman, Spurs lifted simply two main honours: the 2008 League Cup below Juande Ramos, and the Europa League in 2025 below Ange Postecoglou.
In that point, their rivals surged forward. Manchester Metropolis and Chelsea have been reworked by funding, Liverpool rebuilt below Jurgen Klopp, and Arsenal bounced again from decline with a brand new id below Mikel Arteta. Tottenham, in the meantime, noticed promise however no payoff. Beneath Mauricio Pochettino, Spurs reached the Champions League remaining in 2019, completed second within the Premier League in 2016-17 with 86 factors, and certified for the Champions League 4 instances in 5 years. However they fell quick when it mattered most – with silverware on the road.
Since that peak, the decline has been stark. Tottenham haven’t completed within the high 4 since 2021-22, and final season’s Seventeenth-placed end was their worst within the Premier League period.
Supporters grew uninterested in close to misses and a perceived lack of ambition. Levy’s resolution to sack Pochettino, adopted by chaotic managerial appointments – Jose Mourinho, Nuno Espirito Santo and Antonio Conte – solely deepened the discontent. Followers started to see him as a barrier to success moderately than a catalyst for it.
A Profitable Businessman
Credit score, nevertheless, should be given the place it’s due. Levy’s enterprise acumen is unquestionable. When he took cost, Spurs have been valued at below £100m. At the moment, in line with Forbes, they’re price over £2.5bn, rating among the many 10 most respected golf equipment in world soccer.
The crown jewel of his reign is undoubtedly the Tottenham Hotspur Stadium. Opened in 2019, it’s broadly considered one of many best soccer venues on the planet, with a 62,850 capability, cutting-edge services, and the flexibility to host NFL video games, concert events and different occasions. The stadium is central to Spurs’ industrial progress, producing matchday revenues of over £100m per season.
Levy additionally positioned Tottenham as regulars in European competitors. Spurs certified for the Champions League six instances throughout his tenure, reaching a minimum of the quarter-finals on three events. Even within the Europa League, they have been constant individuals, conserving the membership seen on the continental stage.
From a enterprise perspective, Levy took Tottenham from a sleeping big to a world model. But soccer is about greater than steadiness sheets. For a lot of followers, the dearth of trophies means his achievements really feel hole. His industrial imaginative and prescient reached its ceiling — and with out sporting success, the model dangers stagnation.
Hindrance Not a Assist
The place Levy really misplaced the fanbase was in his dealing with of soccer operations. He earned a repute as a ruthless negotiator, typically praised for extracting most charges for outgoing gamers. Nonetheless, that very same method turned a legal responsibility within the switch market.
Offers for incoming gamers steadily stalled or collapsed. Tottenham turned recognized for leaving signings till late within the window or lacking out totally. In 2022, Antonio Conte publicly known as for backing after a scarcity of reinforcements. Even Pochettino admitted in 2018 that Spurs have been “courageous” in making no signings in any respect, a choice broadly criticised in hindsight. Lacking out on Eberechi Eze and Morgan Gibbs-White this summer time solely added gas to the hearth.
Wage restrictions have been one other sticking level. For years, Spurs operated with one of many lowest wage-to-revenue ratios within the Premier League, making it tough to draw and retain high expertise. Christian Eriksen, Kyle Walker and others finally left searching for larger contracts elsewhere.
All of this fuelled fan protests. ‘Levy out’ banners have been displayed at video games, and chants in opposition to the chairman grew louder with every season of underachievement. What as soon as appeared like sturdy monetary governance got here to be seen as penny-pinching that value Spurs their likelihood to compete with England’s elite.
Takeover Pending?
Levy’s resignation additionally raises questions concerning the membership’s possession. ENIC Group, run by Joe Lewis till his latest authorized troubles, stays the bulk shareholder. With Levy gone, hypothesis is intensifying about whether or not new traders could possibly be on the horizon.
Saudi Arabia’s Public Funding Fund, which owns Newcastle United, has been linked with curiosity in different Premier League golf equipment. American non-public fairness corporations are additionally more and more energetic in soccer, with latest takeovers at Chelsea, Manchester United (part-buy), and Bournemouth. Tottenham, with its world-class stadium and London location, is a gorgeous prospect.
Naming rights for the stadium have additionally been a long-running difficulty. Levy pursued offers with main firms, however no settlement was finalised, regardless of the stadium being open for over six years. A brand new government group could prioritise this, probably unlocking tens of hundreds of thousands yearly in industrial income.
Whether or not ENIC doubles down on its management or sells to outdoors traders, Levy’s exit suggests change is coming. Followers can be desperate to see if it results in better ambition on the pitch, not simply stability off it.
A New Period
For some, Levy stepping down was a shock. For others, it felt inevitable. Tottenham had reached a crossroads: commercially sturdy however competitively restricted, admired for his or her stadium however mocked for his or her lack of trophies. A change on the high was wanted to reset the membership’s course.
Levy leaves behind an advanced legacy. He made Spurs financially safe, globally recognised, and gave them a house match for the twenty first century. But he didn’t ship what followers crave most – success on the pitch. His cautious method, boardroom management, and missed alternatives meant that whereas Tottenham grew as a model, they by no means grew into constant winners.
Now, with new management probably opening the door to funding and a contemporary method, Spurs have an opportunity to redefine themselves. If the subsequent period prioritises footballing ambition to match the enterprise infrastructure Levy constructed – and which he ought to be absolutely credited for – then Tottenham could lastly be able to compete with the most important golf equipment in Europe.
For supporters who campaigned for change, Levy’s resignation seems like the top of an period – however maybe extra importantly, ultimately, the start of a brand new one
