Tottenham’s Daniel Levy era officially ends. After nearly 25 years as executive chairman, Levy resigned and ended a chapter that redefined the club, but not much on the court. Levy was appointed in 2001 in 2001, and Levy hosted the Spurs from a mid-time regular in the Premier League to one of Europe’s most powerful clubs.
Under his leadership, Tottenham Hotspur entered a state-of-the-art stadium, always qualifying for European football and attracting a global fan base. Yet despite these undeniable business achievements, supporters’ frustration has grown steadily over the years.
In recent seasons, the ode to “Levy Out” has become a familiar soundtrack at Tottenham Hotspur Stadium, and his position eventually becomes untenable. Why do fans object to the people who make the Spurs a financial giant? What does his departure mean for the club’s future?
Levi’s fall
For Tottenham Hotspur fans, Levi’s domination is not defined by what has been achieved, but by what it is not defined by. Despite the club’s financial growth, trophys are still scarce. In his 23 years as chairman, the Spurs have won only two major honors: the 2008 League Cup under Juande Ramos and the 2025 Europa League under Angel Postecoglou.
At that time, their competitors spread forward. Manchester City and Chelsea invested, Liverpool rebuilding under Jurgen Klopp, while Arsenal rebounded in a new capacity under Mikel Arteta. Meanwhile, Tottenham saw the promise but no return. Under Mauricio Pochettino, the Spurs reached the Champions League final in 2019, finished second in the Premier League with 86 points in the 2016-17 year, and qualified for the Champions League four times in five years. But when it’s most important, they’re not on the production line.
The decline has been obvious since that peak. Tottenham Hotspur has not made the top four since 2021-22, with No. 17 last season being their worst game in the Premier League era.
Supporters are tired of near-missing and lack of ambition. Levy’s decision to fire Pochettino followed by a chaotic management appointment – the decisions of Jose Mourinho, Nuno Espirito Santo and Antonio Conte only deepened the dissatisfaction. Fans began to see him as a barrier to success, rather than catalyzing it for it.
Successful businessman
However, credit must be given where due. Levy’s business acumen is undoubtedly. When he was in charge, the Spurs were worth less than £100 million. Today, according to Forbes, they are worth over £2.5 billion, ranking among the 10 most valuable clubs in world football.
The crown gem of his reign was undoubtedly Tottenham Hotspur Stadium. Opened in 2019, it is widely regarded as one of the best football venues in the world, with a capacity of 62,850, cutting-edge facilities and the ability to host NFL games, concerts and other events. The stadium is crucial to the Spurs’ business growth, with game-day revenues of more than £100 million per season.
Levi also positioned Tottenham Hotspur as a regular in Europe. The Spurs qualified the Champions League six times during their tenure and reached the quarterfinals at least three times. Even in the Europa League, they are consistent players, keeping clubs visible on the Mainland stage.
From a business perspective, Levi brought Tottenham from a sleeping giant to a global brand. But football is about more than just the balance sheet. For many fans, the lack of trophy means his achievements feel empty. His business vision reached the ceiling, and without the success of the movement, the brand could stagnate.
Obstacles are not help
What Levy really lost his fan base is that he handles football action. He has earned a reputation as a cruel negotiator and is often praised for charging the highest fees for outgoing players. However, the same approach becomes the responsibility of the transfer market.
Players who come in and out often stagnate or collapse in trades. Tottenham is famous for leaving his signature until the window is late or completely missed. In 2022, Antonio Conte publicly called for support after a lack of reinforcements. Even Pochettino admitted in 2018 that the Spurs had no signature to be “brave”, a decision that was widely criticized afterwards. Missed Eberechi Eze and Morgan Gibbs-White this summer, which only adds fuel to the fire.
Payroll restrictions are another obstacle. The Spurs have been one of the lowest wage to income ratios in the Premier League for many years, making it difficult to attract and retain top talent. Christian Eriksen, Kyle Walker and others ended up leaving a bigger contract elsewhere.
All of this inspired fans to protest. The “tax” banner was shown in the competition, while the record for the chairman became larger in each season’s achievement. What once seemed like strong financial governance was seen as a cost cut by a cent inspired their chances of competing with the English elite.
Acquisition is pending?
Levi’s resignation also raised questions about club ownership. The Enic Group, run by Joe Lewis, has been a major shareholder until recently. As the taxation disappears, speculation about whether new investors can approach is growing.
Saudi Arabian Public Investment Fund, which owns Newcastle United, is linked to interest in other Premier League clubs. Private equity firms in the United States are also becoming more active, with recent acquisitions at Chelsea, Manchester United (partially bought) and Bournemouth. With a world-class stadium and London location, Tottenham is an attractive prospect.
The naming rights of stadiums are also a long-term problem. Levy reached a deal with the big company, but despite the stadium being open for more than six years, no agreement was reached. A new executive team could prioritize this and potentially release tens of millions of business revenue each year.
Whether it’s control of Enic or selling to outside investors, Levy’s exit indicates a change is coming. Fans will be eager to see if it leads to greater ambitions on the court, not just stability.
A new era
For some, Levy’s resignation was a surprise. For others, this is inevitable. Tottenham has reached a crossroads: a commercially strong but competitive limit that is admired for its stadium but ridiculed for lack of trophies. The top needs to be changed to reset the orientation of the club.
Taxation leaves behind a complex legacy. He made the Spurs financially safe, globally recognized, and provided them with a 21st century home. However, he failed to convey the most eager fans – success on the court. His cautious attitude, board control and missed opportunities meant that despite Tottenham’s growth as a brand, they never became a consistent winner.
Now, with new leadership potentially opening doors for investment and new approaches, the Spurs have the opportunity to redefine themselves. If the next era prioritizes football ambitions and attitudes toward expropriation of commercial infrastructure – and should be attributed entirely to him – then Tottenham may eventually be ready to compete with Europe’s largest club.
For supporters of campaign change, Levi’s resignation feels like the end of an era—but more importantly, it is ultimately a new beginning
