Tottenham have announced the shock departure of chairman Daniel Levy after almost 25 years in charge.
In a statement, the club said that the ambition “to deliver long-term sporting success” was a factor in the decision.
Levy’s exit is the latest - and by far the biggest - shake-up at board level at Spurs, signalling the end of an era and the beginning of a new one under fresh leadership.
In March, the appointment of Peter Charrington, a director of ENIC and former chief executive of Citi Private Bank, was viewed by some as significant in potentially changing the power balance within the club. Charrington is now the non-executive chairman in a newly created role.
A month later, in news exclusively revealed by Standard Sport, Tottenham appointed former Arsenal director Vinai Venkatesham as the club’s new chief executive. Weeks later, executive director Donna Cullen, a long-time confidante of Levy’s, left the club after almost two decades in the role.
Levy, the longest-serving chairman in the Premier League, has now departed and the day-to-day running of the club will be Venkatesham’s.
I wish to thank all the fans that have supported me over the years. It hasn’t always been an easy journey but significant progress has been made
Levy said: “I am incredibly proud of the work I have done together with the executive team and all our employees. We have built this club into a global heavyweight competing at the highest level. More than that, we have built a community. I was lucky enough to work with some of the greatest people in this sport, from the team at Lilywhite House and Hotspur Way to all the players and managers over the years.
“I wish to thank all the fans that have supported me over the years. It hasn’t always been an easy journey but significant progress has been made. I will continue to support this club passionately.”
Levy’s tenure was dogged with fan protests, even as recently as the home loss to Bournemouth last weekend. Supporter unrest has largely stemmed from a lack of silverware won during Levy’s stewardship. Until the recent Europa League win in May, the 2008 League Cup was the only trophy won during his tenure.
Decision-making regarding transfers and managerial appointments has also faced criticism, with the club’s perceived lack of ambition in the transfer market during Mauricio Pochettino’s time in charge, which included Premier League title challenges in 2016 and 2017, and then run to the Champions League final, often cited by fans.
Fans were this summer quick to blame Levy for Spurs’ failure to sign Eberechi Eze from Crystal Palace when, after weeks of negotiations between the club, bitter rivals Arsenal swooped in a hijacked the move within hours.
Levy recently said that the club’s £1billion stadium, opened during that final to the Madrid final in 2019, was his greatest achievement with Spurs.
“I think it’s one of those situations when I’m not here I’m sure I’ll get the credit,” Levy told Gary Neville’s The Overlap podcast in a rare interview.
“When you come here and look at this wonderful (stadium), and the fact that other clubs are now trying to copy what we’re doing, that should be a sign that maybe we did do something bold, and something right.”
I do recognise there has been a lot of change in recent months as we put in place new foundations for the future
Spurs will now begin a new era, helmed by non-executive chairman Charrington.
He said: “I am very honoured to become Non-Executive Chairman of this extraordinary Club and, on behalf of the Board, I would like to thank Daniel and his family for their commitment and loyalty to the Club over so many years.
“This is a new era of leadership for the club, on and off the pitch. I do recognise there has been a lot of change in recent months as we put in place new foundations for the future. We are now fully focused on stability and empowering our talented people across the Club, led by Vinai and his executive team.”
ENIC took control of the club in 2001 and holds around 85 per cent of Tottenham shares. Levy owns a 29 per cent stake in ENIC, with more than 70 per cent held by the family trust of British businessman Joe Lewis.
Levy over a year ago confirmed that the club was actively seeking fresh investment as it "requires a significant increase in its equity base" to fulfil its long-term potential and is "in discussions" with potential partners.
More follows.
