Tottenham agreed ‘strange’ deal before ousting Daniel Levy, there was a ‘fall-out’
Tottenham made a “strange” decision appointing Vinai Venkatesham as CEO while Daniel Levy remained the club’s chairman.
Tottenham confirmed Levy has stepped down as executive chairman on Thursday (4 September) after spending 24 years in the role, with Peter Charrington appointed non-executive chairman.
Spurs insisted there will be no changes to the ownership of the club, while Levy will remain part of ENIC, which owns an 86.91 per cent stake at the Tottenham Hotspur Stadium.
Levy and members of his family own a 29.88 per cent stake in ENIC, with Joe Lewis’s family trust holding the remaining 70.12 per cent.
Alongside Charrington, Venkatesham will now steer the ship after he was appointed as the club’s CEO in April.
Daniel Levy in Tottenham ‘fallout’ after confirmed news
This article contains exclusive comment from Stefan Borson, a former financial adviser to Man City.
Football Insider revealed on Friday (5 September) Amanda Staveley has been in talks about a Tottenham takeover.
However, Staveley’s company PCP International Finance released a statement on Monday (8 August) confirming it “does not intend to make an offer for Tottenham”.
Speaking exclusively to Football Insider about Levy’s exit, Borson said: “I don’t think it’s a planned thing from his perspective.
“I think effectively it looks like there’s been some kind of dispute or fall-out, and he’s been the victim of that and now we’ll have to see how it pans out.
“In terms of positions, it was always unusual from April that they would have an executive chair in Daniel Levy and a chief executive because usually you have one or the other.
“Usually, what you would have if you have a chief executive would be a non-executive chairman.
“While we’ve had Daniel Levy as executive chairman and a CEO, there’s always been this kind of strange question mark over where does one person’s remit end and another’s begin?
“So, the more natural move following the appointment of the CEO in April would have been for Daniel Levy to become non-executive chairman, but Charrington has become non-executive chairman and Daniel Levy has gone completely.”
Daniel Levy boosted Tottenham’s finances
While Levy has been a controversial figure among Tottenham fans, he leaves the club in a strong financial position following his departure.
Spurs’ latest published accounts for 2023-24 revealed their turnover fell from £549.6million in 2022-23 to £528.2million, but their commercial revenue increased from £227.7million to £255.2million across the same period.
In terms of matters on the pitch, Thomas Frank has picked up six points from his opening three Premier League matches in charge of the club, having replaced Ange Postecoglou in June.
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