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

Daniel Levy has fallen as the executive chairman of Tottenham, who ends a 24-year-old Stint that leads the North London side. Spurs has confirmed that there will be no changes in the ownership structure in the club after the astonishing revelation that the longest serving chairman in the Premier League would leave the club.

Tottenham’s daily running is expected to fall to Vinai Venkatesham, the Chief Executive, which was appointed in April after more than a decade in April 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 leaves as one of the most controversial figures in the history of the club, a man including Tottenham built one of the best stadiiums of football and settled as one of the ‘Big Six’ of the Premier League. However, the 63-year-old enjoyed a turbulent relationship with supporters, who often expressed their frustration about what they considered a lack of ambition to compete on the field. Since the takeover as chairman in 2001, Levy Tottenham saw two trophies win, the 2008 League Cup and the Europa League in May.

“I am incredibly proud of the work that I did together with the Executive Team and all our employees,” said Levy. “We have built this club into a global heavyweight that competes at the highest level. More than that we have built up a community. I was lucky to work with some of the greatest people in this sport, from the team of Lilywhite House and Hotspur -road to all players and managers over the years.

“I want to thank all the fans who have supported me over the years. It has not always been an easy journey, but considerable progress has been made. I will continue to support this club passionately.”

Levy and his family remain partial owners of Tottenham. They have a interest of 29.4% in Enic, which owns 86.6% from Tottenham. The rest of Enic is owned by the Family Trust of Joe Lewis, 88.

Although the departure of Levy came as a surprise, the explanation of Spurs gave an indication that they had the land ready for a change in leadership. The appointment of Venkatesham was considered an important coup for Spurs earlier this year, with the new CEO earlier serving on the Executive Board of the European Club Association. New coaching staff also added both the arrangement of men and the ladies this summer; Thomas Frank in the men’s team and Martin Ho on the ladies. Charreston is now a close confidant of Lewis and previously led Citi Private Bank.

“I am very honored to become a non-executive chairman of this extraordinary club and on behalf of the board I want to thank Daniel and his family for their dedication and loyalty to the club for so many years,” said Charrington. “This is a new era of leadership for the club, on and next to the field. I acknowledge that there has been a lot of change in recent months, because we have introduced new foundations for the future. We are now fully focused on stability and strengthening our talented people in the club, led by Vinai and his executive team.”