Tottenham Hotspur's long-standing chairman Daniel Levy unexpectedly departed the Premier League club on Wednesday evening after 25 years in charge.
The unusual timing of the departure has lead to speculation over potential linkage with the future of Spurs' ownership. The Lilywhites are currently owned by the Lewis family, however rumours of a sale have persisted throughout 2025. The insinuation is that Levy's been pushed out to get the club in a better position to execute a sale.
Tottenham sources remain adamant that Levy's exit is part of a review of sporting performance and the Lewis family remain committed to the long-term future of the club, with no plans to sell their shares.
But the departure has been described as a 'precursor' for a sale by talkSPORT's Alex Crook, who also noted murmurings within the last few weeks about investment from the Middle East, while Premier League officials at rival clubs believe Tottenham are 'ripe' for a takeover due to their location, new stadium and training facilities.
A price has even been mooted.
The Cost of a Tottenham Takeover and Who Could Buy them
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Anyone looking to buy Spurs would be facing a price-tag around the £4billion mark. That is based on the potential revenue from Spurs' stadium, which also hosts NFL games, prize money from involvement in the Premier League and elite European competitions, and the club's healthy financial situation.
Despite rumours linking Spurs with investors from the Middle East, sources from Qatar have distanced themselves from a potential swoop for the Lilywhites. Instead, it's believed interest is likely to come from the United States, maintaining a long-running trend of American investors in British football - not least including Tom Brady at Birmingham City and Ryan Reynolds and Rob Mac at Wrexham.
Levy's Legacy at Spurs Splits Opinion
Daniel Levy
There is no black-and-white summary of Levy's spell steering the ship at Tottenham.
For many Spurs fans, much of the last 25 years has been defined by missed opportunities. The Lilywhites have only lifted two trophies in that time and during just two seasons under Mauricio Pochettino have they looked like genuine Premier League title contenders. They have failed to back their managers at key moments, and even removed Jose Mourinho days before the 2021 League Cup final.
Tottenham never spent on transfer fees or wages to the same level as the rest of the Premier League's Big Six, and although they have often outperformed rivals during individual seasons, overall they have never evolved beyond their status as the least successful member of English football's elite.
On the other hand, there is no denying that Levy has significantly improved the condition in which he's left Tottenham compared to what he inherited. When he took over in 2000, Spurs were on course for a 10th-place finish in the Premier League, having finished no higher than 7th since the English top flight was reformed for the 1992/93 season.
Tottenham have qualified for European football for 17 of the last 19 seasons, and even reached the 2019 Champions League final. Meanwhile, their training facilities and stadium are now the envy of clubs around the world.
In terms of infrastructure and financial health, Levy has made Spurs one of the best-run clubs around. However, that has often come at the expense of on-pitch success and glory for supporters.