Daniel Levy’s near 25-year reign as executive chairman of Tottenham is over.
Spurs’ official announcement said he had “stepped down”, but BBC Sport understands the decision was taken out of Levy’s hands.
Well-placed sources said the ownership agreed for him to leave his position amid a belief that change would lead to greater sporting success.
Levy was appointed in March 2001 and leaves after the club won the Europa League in May to end a 17-year wait for a trophy.
The 63-year-old was the Premier League’s longest-serving chairman and earned an estimated £50m-plus during his time in charge, but he was also the target of regular protests from Spurs fans, especially last season.
Levy will go with immediate effect and there will be no notice period, with the timing of his departure after the summer transfer window a deliberate move.
However, one source familiar with Levy told BBC Sport the former chairman had to operate with “one hand tied behind his back” during his tenure, and had to diversify revenue streams as a result.
They said they felt there’d been insufficient investment in Spurs for the past 25 years, and the question was whether that would really change.
“I am incredibly proud of the work I have done together with the executive team and all our employees,” said Levy, who had a reputation in football for being a shrewd operator and tough negotiator.
“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.”
Tottenham’s European trophy success last season came against the backdrop of a difficult Premier League campaign in which the team finished 17th under head coach Ange Postecoglou, who was sacked in the summer and replaced by Thomas Frank.
There were a number of protests aimed at Levy last season, with prominent banners at the home defeat by Leicester in January carrying the messages “Our game is about glory, Levy’s game is about greed” and “24 years, 16 managers, 1 trophy – time for change”.
There were also regular chants of “Levy out” during the campaign.
During his tenure, Levy oversaw the switch from White Hart Lane to the £1bn state-of-the-art Tottenham Hotspur Stadium, which the club made their new home in 2019.
Spurs also reached the Champions League final under former manager Mauricio Pochettino in 2019 but missed out on the trophy following a 2-0 defeat by Liverpool.
Football finance expert Kieran Maguire has described Tottenham as the “most profitable club in Premier League history” because of the money their new stadium generates, a historically lower wage structure and a “degree of caution” on transfer spending.
This summer, according to FootballTransfers.com, Spurs have spent about £181m on signings who have included attacking midfielders Xavi Simons and Mohammed Kudus.
Tottenham have been making key appointments in recent months. Before Frank’s arrival, the club named Vinai Venkatesham as their new chief executive in April.
Peter Charrington becomes non-executive chairman, a new role, following Levy’s exit.
Charrington, is a director of Tottenham’s owners Enic, a vehicle for running the club owned by the Tavistock Group, which in turn is owned by the Lewis family. He was appointed to the Spurs board in March as a non-executive director.
Levy and his family hold a stake in Enic.
In announcing Levy’s departure, the club said: “Tottenham Hotspur has been transformed over the last quarter of a century.
“It has played in European competitions in the last 18 of 20 seasons, becoming one of the world’s most recognised football clubs, consistently investing in its academy, players and facilities, including a new, world-class stadium and state-of-the-art training centre.
“The club has also competed regularly at the highest level, enjoying a number of fantastic on-field successes, including the recent Europa League cup win.”
Tottenham said there would be “no changes to the ownership or shareholder structure”.
Charrington thanked Levy for his service and added: “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.”
The change of leadership comes with the club sitting fourth in the Premier League after three games of the 2025-26 season.
Who and what is behind the Levy decision?
BBC Sport has been told that there is a sense from the Lewis family that success on the pitch has not been consistent enough over the years of Levy’s reign.
Spurs have won two trophies during his 25 years at Spurs, the first being the League Cup in 2008.
The Lewis family are aware of some of the supporter discontent – much of it directed at Levy – that has engulfed the club in recent years.
Tavistock figurehead Joe Lewis, 88, is understood to have had a peripheral role in the decision for Levy to leave his post.
It is understood that younger generations of the family – Vivienne and Charlie, who are Joe’s children – have been key in making the decision.
Vivienne has been particularly visible at Spurs in recent months. Nick Beucher – the grandson-in-law of Joe Lewis – has also taken a greater involvement.
BBC Sport understands all the hierarchical changes over the past few months have led to today’s announcement.
It is understood the role of executive chairman will be removed with a view to modernising the board’s structure.
The Lewis family have been at the forefront of those changes, including the decision regarding Levy.
Levy will remain a shareholder of Enic but will cease to have any direct involvement with the club.
The share structure of Enic will remain unchanged.
The Lewis’ initiated a thorough external review of Tottenham’s operation earlier this year, and well-placed sources told BBC Sport that followed a number of concerns from the Tavistock Group.
The financial operation of the club was among the areas reviewed.
It is also understood the ownership made a significant investment into the club over the past few months which has helped Spurs in the transfer market.
The review also resulted in the aforementioned board changes, including the appointments of Charrington and Venkatesham.
[BBC]