Chairman Daniel Levy is stepping down, but only if capital from the Middle East comes in.
BBC reported on the 7th (Korea time) that "Daniel Levy, who has led Tottenham for nearly 25 years, is leaving open the possibility of stepping down himself."
Currently, it is said that Tottenham is reviewing changes, including a new investment structure or equity sale, and has connections with Qatari capital. However, the Tottenham club responded that "there is no confirmation of the Qatar acquisition rumor."
BBC quoted internal sources from the club saying, "Chairman Levy has the stance that he could step down if it is best for Tottenham," and noted that "the club is open to all forms of changes in the ownership structure. If a complete acquisition of Tottenham is made, he does not intend to remain at Tottenham anymore."
However, this also indicated that it could be a matter of equity adjustment or attracting some investments rather than a complete sale of the club.
Chairman Levy is a minority shareholder of Tottenham, while the majority shareholder, ENIC Group (owned by the Lewis Family Trust), holds the real decision-making power.
Negative evaluations of Chairman Levy continue to persist.
BBC reported on the 1st that "Chairman Levy emphasized that expenditure in the transfer market should be 'sustainable and smart' while explaining the situation where club revenue has declined in the recently released financial statements."
Tottenham's total revenue for the fiscal year ending in June 2024 is reported at £528.2 million (1.04 trillion won), a 4% decrease from the previous year's £549.6 million (1.05 trillion won). However, the post-tax loss decreased significantly from £86.8 million (165 billion won) in 2023 to £26.2 million (49.8 billion won) in 2024.
Chairman Levy stated, "We are considered the ninth wealthiest club globally, and as such, we are asked for more investment from our fans. However, considering the club's long-term finances, we will not make expenditures that we cannot afford." He also denied the possibility of excessive borrowing, emphasizing, "We cannot spend money we do not have."
Furthermore, Chairman Levy said, "Acquisitions remain a key issue" and stated, "We will pursue smart acquisitions that fit the financial situation."
Tottenham fans have continuously criticized Chairman Levy and the club's owner, ENIC Group, for insufficient investment in the team.
Last year, Tottenham generated £165.9 million (315.5 billion won) in revenue from television broadcasting rights, an increase from £148.1 million (281.6 billion won) in 2023. Meanwhile, income from UEFA competitions was £56.2 million (106.8 billion won) during their Champions League participation in 2023 but is expected to drop significantly to £1.3 million (2.4 billion won) in 2024.
Matchday revenue also decreased. With nine fewer home games, revenue dropped from £117.6 million (223.6 billion won) in 2023 to £105.8 million (201.2 billion won). The operating costs related to football transactions decreased by 7% from £487.9 million to £453.6 million (86.3 billion won).
Net borrowings increased, rising from £677.4 million (1.29 trillion won) in 2023 to £772.5 million (1.47 trillion won) in 2024. Nevertheless, the club explained that "the average maturity of total borrowings is 18.6 years, so it will only have a limited impact on investment in the team."
BBC reported that "Chairman Levy is hurt by repeated criticism but is facing it head-on." A club insider claimed, "There is an internal belief that Chairman Levy will eventually step down."
Chairman Levy is the highest-paid CEO in the English Premier League as of 2023, earning £6.6 million (11 billion won). He has helped make Tottenham the most profitable club in Premier League history over the past 25 years. From 2001 to 2023, he recorded a cumulative net profit of £171 million (290 billion won), which is higher than that of Burnley (2nd) and Arsenal (3rd) during the same period.
Tottenham boasts the highest season ticket prices in the league and is generating astronomical revenue through its new stadium.
However, fans are angry about the lack of bold investments, sluggish signings, and a management strategy focused on revenue rather than improving team performance, including scouting for promising players for resale.
While the actual revenue was high, the club’s performance raises questions. Tottenham has not won the league during this period, securing only one League Cup (2008) and has had a staggering 16 managers come and go.
BBC evaluated Chairman Levy as "a quiet, hardworking individual who genuinely loves the club." Insiders commented that "Levy is autocratic but always tries to make the best decisions for Spurs."
Chairman Levy's future also depends on the decisions of ENIC and the Lewis family. To date, a complete sale of the club has not been considered, but according to BBC, "all structural changes are open."
In 2023, Qatar Sports Investments (QSI) reviewed a minority equity investment, and recently, reports emerged through The Guardian about an unidentified Qatari conglomerate consortium expressing interest in Tottenham. If investment from Middle Eastern capital comes in, Levy is expected to be ousted.
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