Farewell to the “Levy Era,” where will Tottenham head next?

Written by Han Bing On the evening of September 4th, London time, Tottenham Hotspur abruptly announced that Daniel Levy, chairman for 25 years, was stepping down, signaling the close of almost a quarter-century of the “Levy Era.” Since assuming the role of executive chairman in February 2001, Levy had wielded near-total control for 24 years, becoming almost synonymous with Spurs. As the longest-serving chairman in the Premier League, the 62-year-old football executive never enjoyed the same reverence as Ferguson or Wenger. From coaches and players to fans, Levy faced far more criticism and doubts than praise over the years.

However, Levy left Spurs with one of the most modern stadiums in England and top-tier club revenues exceeding 600 million euros per season. His frugality, cold demeanor, and tough negotiating style partly defined Tottenham over the last 24 years. He made Spurs the financially strongest big club in the Premier League, boasting a leading 42% wage-to-revenue ratio. As British football finance expert Kieran Maguire noted, Spurs under Levy were the most profitable club in the Premier League.

Of course, this profitability came at the cost of a rather sparse trophy cabinet. Earning the highest CEO salary among Premier League clubs (£6.6 million), Levy was notoriously tight with transfer funds, which made it difficult for Spurs to win major trophies amid the fierce competition of the traditional “big six.” Under Levy, Spurs won only one English League Cup and one UEFA Europa League trophy, often falling just short of major honors. In the 2015-16 season, they lost at home to Leicester City and gained only 2 points in the last 4 matches, handing the title to the biggest Premier League underdog ever. The 2016-17 season saw a remarkable 12 wins and 1 loss in the final 13 games but still failed to surpass Chelsea for the championship. As for the 2018-19 Champions League, Spurs advanced more by luck than dominance and were already exhausted by the final.

After last season’s dramatic decision to forgo the Premier League for the Europa League title, especially finishing 17th in the league—the club’s worst top-flight finish in 48 years—the majority owners, the Lewis family, finally made up their minds. They want Spurs to enter a more modern era of management, making the departure of the “old-school” Levy inevitable. Although Levy’s exit seemed sudden, it was actually a well-planned “open secret” orchestrated by the Lewis family.

Joe Lewis, the Spurs majority owner who co-founded ENIC with Levy in 1995, is now 88 years old and has long resided in the Bahamas. His daughter Vivian made the decision and carried out the plan to remove Levy.

Vivian, 63, serves as an executive director in the Lewis family’s business empire, while her 39-year-old son-in-law Nick Butcher acts as joint CEO. In recent years, both have increasingly involved themselves in club affairs, setting a strategy focused more on sporting success. After the Europa League victory this summer, coach Postecoglou was dismissed, veteran star Son Heung-min departed, and Frank, one of England’s promising young managers, was appointed. With over 200 million euros spent in the summer transfer window, Spurs’ strategic shift is irreversible.

The “de-Levy-ization” of Tottenham’s management began six months ago. In March, Charlton, a director from ENIC controlled by the Lewis family, joined the club’s board; in April, Arsenal’s Indian-origin CEO Vinai Venkatesham became Spurs’ new CEO; in May, Levy’s trusted aide Donna Cullen resigned from the club’s board, marking the countdown to Levy’s departure. Although the Levy family still holds 29.4% of ENIC, Spurs’ parent company, they no longer influence club affairs.

Levy’s resignation signifies a transformation in Tottenham’s management and development strategy. During his 24 years, Spurs went through 16 managers and invested over 2.25 billion euros in the transfer market. When he took office in 2001, Spurs were at a low point, losing key figure Sol Campbell to rivals Arsenal on a free transfer. Levy brought in stars like Robbie Keane, Defoe, Berbatov, Modric, Bale, Kane, and Son, helping Spurs rise economically and competitively into the Premier League’s top six.

Unfortunately, these stars, who Spurs fans proudly admired, all left due to Levy’s “profit-first” approach that hindered championship success. For Spurs supporters, Levy was a leader of mixed feelings. He gave Spurs a modern stadium surpassing their city rivals Arsenal and placed them atop the British football scene, yet failed to deliver more trophies for fans to celebrate. Now that the Levy Era has ended, where will the Lewis family steer the club? Only time will tell.