TA: The Lewis family believes that Tottenham sports are not performing well, Levi is long enough and it s time to change

September 8 The Athletic reported that Daniel Levi, who had served as chairman of Tottenham club for 24 years, officially resigned on Thursday night, and the decision was made by the club's major shareholder Lewis family.

Peter Charlington takes over as non-executive chairman. He is not from the sports world, but has extensive experience in private banking and is a close ally of the Lewis family. This series of changes has made Tottenham fans full of doubts about the club's future. TA's Tottenham Hotspur reporter Jack Pete Brooke and football finance expert Chris Weatherspoon made an in-depth analysis.

About Levi's resignation is related to the failure of the transfer window?

Levi was dismissed from office because of impulse. It is reported that the Lewis family hired Gibb River, an American management consulting firm, as early as the beginning of this year to investigate the reasons why Tottenham has performed poorly on the court in recent years. Meanwhile, Charlington, the Lewis family’s candidate, also joined the board. Subsequently, more senior changes occurred one after another, including the appointment of new CEO Vinay Venkatsham and the resignation of long-time executive director Donna Maria Callen.

The Lewis family believes that Tottenham's performance failed to meet expectations, and Levi has been given enough time to manage the club the way he does, and it is time to take a new approach.

A source close to the Lewis family said: "They want to realize the fans' desire, namely more victory."

About the possibility of club sales?

In recent years, the potential sales of Tottenham Hotspur have been a topic of concern. Rumors have been heard about the club's sale since ENIC acquired Allen Sugar's stake in 2000. Despite several opportunities to close a deal, such as the nearly acquisition of Todd Burley-led consortium in 2019, the focus of discussion in recent years has been no longer on a full sale, but rather on a partial sale to attract investment. At present, the Lewis family has made it clear that "the club is not for sale." Their priority is to support management and strive for the team's success. In addition, football clubs have extremely high valuations, and not many buyers can afford such high valuations.

Levi's future and its holding value? Although Levi left the board of directors, he is still a shareholder. Unless his shares are sold, he is unlikely to appear in other football clubs. Levi Trust holds 29.88% of ENIC shares, while ENIC holds 86.91% of Tottenham. Under the UK Company Act, a special resolution requires 75% approval, which means that the special resolution cannot be passed without the consent of Levi Trust.

Nevertheless, Levi's 30% stake still has important influence at the ENIC level. If Levi decides to sell his stake, many clubs will be interested in their extensive financing experience. After all, the club has made significant progress in both business and athletics in the decades since ENIC took over Tottenham.

US management consulting firm Gib River, commissioned by the Lewis family, reviewed Tottenham's operations earlier this year.

The company's mission is to investigate why Tottenham has performed poorly in the past few years. The official website of Jibhu River said it is committed to "significantly improving financial and operational performance and increasing corporate value" and listed several successful cases, but did not mention the sports field.

Spurs' new loan agreement with Macquarie?

Last week, Tottenham showed a new "fee" record at the UK company registry, held by Macquarie Bank in Sydney, Australia. This is not the first time a Premier League club has borrowed from Macquarie, but it is a new attempt for Tottenham. The loan is of special nature and involves the amount that Tottenham deserves from the Premier League between December and May. Essentially, Tottenham received some of the Premier League central allocated funds for the 2025-26 season (including bonuses based on final league rankings) in exchange for instant cash.

Macquarie Bank pays the cash and recovers principal and interest when the Premier League issues money to Tottenham. This approach does not necessarily mean a financial crisis, but it is a time when Tottenham faces a decline in cash balances, showing that they are eager to obtain liquidity.

Football achievements in the Levi era?

From a football perspective, Levi's biggest achievement was to form a team that reached the Champions League finals and won the Premier League runner-up in 2019. This achievement is mainly attributed to the appointment of Pochettino as coach in 2014 and the subsequent signing of key players such as Ali and Son Heung-min. However, due to the lack of support for Pochettino, the team failed to sell players who lost their motivation in a timely manner, resulting in poor recruitment and development of players from 2014 to 2021.

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