Daniel Levy surprisingly steps down as Tottenham executive chairman: What does move mean for Spurs?

Daniel Levy has stepped down as Tottenham's executive chairman, ending a 24-year stint leading the north London side. Spurs have confirmed that there will be no changes to the ownership structure at the club following the stunning revelation that the longest-serving chairman in the Premier League would depart the club.

Day-to-day running of Tottenham is expected to fall to Vinai Venkatesham, the chief executive who was appointed in April after over a decade at Arsenal. Peter Charrington, Director of ENIC and former CEO of Citi Private Bank, will take on the newly created role of Non-Executive Chairman.

Levy departs as one of the most contentious figures in the club's history, a man under whom Tottenham built one of football's finest stadiiums and established themselves as one of the Premier League's 'Big Six.' However, the 63-year-old enjoyed a turbulent relationship with supporters, who frequently expressed their frustration at what they viewed as a lack of ambition to compete on the pitch. Since taking over as chairman in 2001, Levy saw Tottenham win two trophies, the 2008 League Cup and the Europa League in May.

"I am incredibly proud of the work I have done together with the executive team and all our employees," said Levy. "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 and his family will remain part-owners of Tottenham. They hold a 29.4% stake in ENIC, which owns 86.6% of Tottenham. The remainder of ENIC is owned by the family trust of Joe Lewis, 88.

"Generations of the Lewis family support this special football club and they want what the fans want -- more wins more often," said a source close to the Lewis family. "This is why you have seen recent changes, new leadership and a fresh approach. In Vinai, Thomas and Peter Charrington, they believe they are backing the right team to deliver on this. This is a new era."

Though Levy's departure came as a surprise, Spurs' statement did offer an indication that they had been readying the ground for a change in leadership. Venkatesham's appointment was viewed as a significant coup for Spurs earlier this year with the new CEO having previously served on the board of the European Club Association. Donna Cullen, viewed as a close ally of Levy, left her position as executive director in June, as did chief football officer Scott Munn. New coaching staff also joined both the men's and women's setup this summer; Thomas Frank on the men's team and Martin Ho on the women's. Charrington, meanwhile, is a close confidante of Lewis and previously led Citi Private Bank.

"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," said Charrington. "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."

Levy's departure comes after what has been several years of speculation over ownership at Tottenham. Talks took place with Qatar Sports and Investment over an investment though that interest subsequently cooled. Spurs have long been one of the most effective revenue generators in the Premier League. Their most recent published accounts for the 12 months up to June 2024 revealed revenue of over $700 million in a year where there was no involvement in European football.