For all the claims of a new era, Spurs fans will think talk is cheap unless the owners splash the cash in the transfer market
Vivienne Lewis with Daniel Levy, weeks before his removal as Spurs chairman
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Matt Verri
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You may be forgiven for thinking there had been a full takeover at Tottenham, with talk publicly and privately of a new era, of grand ambitions and an exciting future following the departure of Daniel Levy after almost 25 years.
Spurs announced that Levy had “stepped down’ but this was not his decision. The younger generations of the Joe Lewis family hold the power and wielded the axe.
The target for the post-Levy era is “more wins, more often”, in the words of a source close to the family.
Chief executive Vinai Venkatesham will run Spurs day-to-day and in an interview this week he too pushed the party line.
Spurs chief executive Vinai Venkatesham with Levy before his exit
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“This is a new era for the club under new leadership, completely backed by a majority shareholder, the Lewis family,” Venkatesham declared.
Levy’s exit was largely popular among the Spurs supporters, who had tired of his leadership.
However, the Lewis family remain in control of Spurs, just as they were a week ago when Levy was still in post. Just as they have been for the past 24 years, a period that has delivered only two trophies and for which Levy eventually paid the price.
Spurs may now find it easier to deal with certain Premier League clubs who had become fed up at negotiating with Levy.
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It is hard to believe, though, that his transfer philosophy was at odds with the ownership’s wishes. That he was so powerful for so long was a big nod of approval.
Levy was still allowed to lead Spurs’ transfer business this summer, even after Venkatesham’s arrival. His departure, therefore, and a reshuffle upstairs is not enough to deliver success. The Lewis family must decisively back the club.
A slicker boardroom structure, combined with the club’s world-class facilities and strong financial health, makes Spurs an incredibly attractive proposition for potential investors.
However, the Lewis family have ruled out selling Spurs, rejecting two recent approaches.
The Lewis family want Spurs to win more trophies after their Europa League triumph last season
AFP via Getty Images
One of those came from Amanda Staveley’s PCP International Finance, though the group are believed to still be monitoring the situation.
Takeover rules mean PCP cannot return with an offer for six months, but that would change if invited to talks by Spurs or if another party made a formal bid.
The takeover talk will continue, for all the Lewis family insist they are going nowhere.
Levy spoke last year about discussions over minority investment in Spurs, but it is understood that is not currently a priority.
Financial backing, then, will likely have to come via a cash injection from the Lewis family.
Doing so ahead of the January window is a possibility and would be a major statement of intent.
Asked about potential investment, Venkatesham joked: “I need to try and answer your question without leading to a whole load of ‘transfer war chest’ stories tomorrow.”
Venkatesham insisted the club have the “firm backing” of the Lewis family, but a war chest is required to get Spurs competing for major honours.
That should not be unattractive to the owners. Investment would make consistent success - their stated ambition - more realistic, and in turn raise the club’s valuation should the family change their stance on selling.
For now, there will be no sale and the children and grandchildren of Joe Lewis will seek to convince fans that a page really has been turned.
Joe’s daughter Vivienne was on the pre-season tour to Hong Kong and South Korea and was alongside Levy for the Burnley match last month.
Her brother Charles and son-in-law Nick are also key figures, who will be seen more.
The family have stayed in the background during their time at Spurs, but a decision has been made to be increasingly visible.
There is no desire to be involved in the day-to-day running of the club, but family members will be in the stands for Saturday’s trip to West Ham.
More visibility will bring added scrutiny. Levy took the flak for more than two decades, with few knowing who the influential members of the Lewis family were.
Now, though, cameras will pan up to the directors’ box and make clear where the power lies.
The Spurs owners have decided to launch a new era - what they do next will define it.
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