The New York Times

Tottenham end relationship with Rothschild & Co as club ‘not for sale’

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Tottenham end relationship with Rothschild & Co as club ‘not for sale’ - The New York Times
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Tottenham Hotspur have ended their relationship with Rothschild & Co, as the Premier League club say they do not need the multinational merchant bank’s financial advice because they are not for sale.

Former Spurs chairman Daniel Levy appointed Rothschild to help find potential external investment in April 2024 and it was still advising Spurs when they were forced to issue a London Stock Exchange statement on September 8 to confirm they had rejected two expressions of interest from Amanda Staveley’s PCP International Finance and Firehawk Holdings.

In that statement, the club’s board and majority shareholder ENIC said Spurs were “not for sale and ENIC has no intention to accept any such offer to acquire its interest in the club”.

However, last week, when Spurs had to issue another statement to say they had “unequivocally rejected” a third informal expression of interest from a group led by American crypto investor Brooklyn Earick, Rothschild was no longer listed as an advisor.

When asked by The Athletic if this meant Rothschild had been sacked, a club spokesperson said: “We’re grateful for the support of Rothschild in recent years.

“However, given the club is not for sale, we mutually agreed there is no longer a role for them and have mutually ended the mandate.”

The spokesperson added that British law firm Dickson Minto will continue to provide independent advice while the club is the subject of takeover speculation, which has stepped up since Levy was sacked on September 4. That ended almost a quarter of a century in charge at the north London club, a tenure that started when ENIC became Spurs’ majority owner in 2001. The British investment firm had bought its first shares in in the club in 1991, before steadily increasing its stake over the next decade.

Founded by British businessman Joe Lewis, ENIC now owns almost 87 per cent of Tottenham’s shares. ENIC itself is controlled by the Lewis and Levy family trusts, with the former controlling just over 70 per cent of the business and the latter owning the rest. This means that the Levy family trust owns about 26 per cent of Spurs.

Under Levy, Spurs built a state-of-the-art stadium and training ground, gained a reputation for being a well-run business and consistently qualified for Europe. But they also hired and fired managers regularly, sold their best players and did not win many trophies.

What does this mean for Spurs?

Rumours about a potential takeover at Spurs have regularly surfaced for several years, with the club repeatedly denying it was on the market, but three approaches for the club have reached the public domain in the last month. This is partly because of the uncertainty caused by Levy’s exit and the fact that Lewis, 88, has kept a low profile since pleading guilty to multiple counts of insider trading in the U.S. in early 2024, but it is also because Spurs are still subject to the UK’s Takeover Code.

Tottenham became the first sports team in the world to be floated on a stock market in 1983, spending the next 18 years on the London Stock Exchange. They then moved to the smaller Alternative Investment Market between 2001 and January 2012, when they were de-listed and taken private.

However, 13 per cent of the shares are still held by approximately 30,000 small shareholders, and it is still possible to trade those shares in auctions held every other month by Asset Match, an online platform. The next auction closes on November 27.

To protect the interests of these small shareholders, any takeover at Spurs will have to follow the same rules as a publicly-listed company, with transparent bids and clear deadlines. This is why Staveley’s PCP had to admit that it did not intend to launch a formal bid for the club and can now not come back to the negotiating table for six months. And Earick, a former DJ and ex-NASA employee, now has until October 24 to announce a firm intention to bid or his group will also have to step back.

Since emerging as a potential bidder, the 41-year-old American has put several posts on social media to counter Spurs’ claim that his interest was unsolicited, as he was given a full tour of the club’s facilities in early August.

However, where his money comes from remains unclear beyond media references to a 12-strong group of American sports investors who are willing to pay £3.3billion for the club, with a further £1.2billion available to upgrade the playing squad. In March, an Earick-led bid to buy Maserati’s Formula E team collapsed at the 11th hour despite him announcing himself as “chairman and CEO” on social media a month earlier.

With Spurs not being advised by a major bank, it is hard to dispute their owners’ claims that they are not for sale. But many sports industry insiders remain convinced that the Lewis family will, at the very least, eventually explore their options, with the advice of at least one multinational financial advisory group.

(Photo: Mike Hewitt/Getty Images)

Tottenham Hotspur forward Dominic Solanke to have surgery on ankle problem

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Tottenham Hotspur forward Dominic Solanke to have surgery on ankle problem - The New York Times
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Tottenham Hotspur striker Dominic Solanke will undergo surgery to fix his ankle problem, head coach Thomas Frank said on Monday.

The 28-year-old did not travel to Norway for Spurs’ Champions League fixture against Bodo/Glimt on Tuesday, and has not played for the north London side since their second game of the season against Manchester City.

“Dom has got that ankle issue that’s been bothering him for a little while so now it’s time to make a minor surgery,” Frank said in Monday’s pre-match press conference.

“It’s a small procedure, so that will mean he’s not ready for (tomorrow). We will have more news about timeframes after the international break but I don’t expect it to be long.”

The striker, who joined Tottenham in a £65million deal from Bournemouth in August 2024, sustained an ankle injury in pre-season and missed five of their summer fixtures before returning as a substitute in the Super Cup defeat to Paris Saint-Germain.

Solanke then appeared off the bench in Tottenham’s first two matches of the season with Richarlison starting up front.

The north London side bolstered their options at striker on transfer deadline day with the loan signing of France international Randal Kolo Muani from PSG.

(Photo: Justin Setterfield/Getty Images)

Tottenham’s Palhinha problem

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Tottenham’s Palhinha problem - The New York Times
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Joao Palhinha could not hide his joy, ripping his shirt off in celebration as he ran over towards the fans in the north-east corner of the stadium. He had just rescued a point for Tottenham Hotspur, driving the ball into the far bottom corner of the net from just outside the box. Four of the five added minutes had already gone.

It was the only moment of quality in an utterly miserable second half on Saturday against Wolverhampton Wanderers, the sole glimmer of light in what was otherwise total darkness. Over the course of that half, Tottenham had found themselves tactically manoeuvred, unable to respond to Wolves head coach Vitor Pereira’s switch to a 5-4-1.

Spurs went 1-0 down, never looked like getting back into the game, and were one minute away from what would have been a painful home defeat against the club who are bottom of the league. Palhinha’s goal at least saved them from the ignominy of that.

But just because Tottenham found a way to scrape a point, it does not mean that fans will brush over the obvious flaws in this performance. The weaknesses were there for all to see.

Spurs were clunky and predictable in possession, apart from a spell at the end of the first half when Mohammed Kudus looked too quick and too sharp for the Wolves defence. He had a header palmed onto the bar by Sam Johnstone and a lovely ‘goal’ disallowed for offside.

But in the main, whenever Spurs got the ball, you knew what they were going to do. It would go out to a full-back, down the line to the winger (Kudus on the right or Xavi Simons on the left), they would attempt an overlap and try to get a cross in. At times, it nearly worked, but there was little subtlety to it, nor any surprise. When Pereira changed Wolves’ formation at the break, with Jackson Tchatchoua and Hugo Bueno at wing-back, even that route was shut down. Wolves controlled the game from then on, Spurs offered nothing else until the equaliser.

What will have concerned Tottenham fans is that some of these problems felt predictable.

New head coach Thomas Frank has started well here — Spurs finished the game third in the Premier League, and a win would have put them second — but the weaknesses of this team are as clear as their strengths. Good on set pieces, good defensively, good in wide areas, but lacking in open play and lacking in possession, especially in home games when they have to take the initiative. If Tottenham do not go ahead from a set piece, they do not always look bursting with ideas about what to do next.

It was impossible not to watch this game and think back to the 1-0 home defeat against Bournemouth four weeks ago. That day, Spurs came up against a very clever, ruthless, pressing team and were made to look clueless on the ball. Bournemouth should have won by far more than one goal.

While Bournemouth are clearly a better side than Wolves, you could easily spot some similarities between the two matches, including in the starting midfields that Frank selected. Against Bournemouth, it was Palhinha, Rodrigo Bentancur and Pape Matar Sarr. For Wolves, it was Palhinha and Bentancur plus Lucas Bergvall.

With Palhinha and Bentancur sitting in front of their defence, Spurs struggle to progress the ball through the centre of the pitch. It feels as if those two players are there for other reasons: to foil attacks, to keep a structure out of possession, even to attract opponents to create space for team-mates. But it leaves Tottenham unable, or unwilling, to play through the middle.

This is not to criticise Palhinha, who has brought a lot to the team since joining on a season’s loan from Bayern Munich. He is one of the league’s best midfielders against the ball, as he showed in the 2-0 away defeat of Manchester City a month ago. Spurs would not be able to win games like that without him. He can be an exceptional game-manager, as he showed when they held on to beat Villarreal 1-0 last week in the Champions League. He brings a sense of focused protection that this team desperately lacked last season.

But that does not mean that Palhinha is always right for every game. Especially not at home, alongside Bentancur, in a match when Tottenham have to take the ball and do something with it. That is a game for Bergvall, for Sarr and, when they get fit again, for James Maddison and Dejan Kulusevski. But it is not a game for Palhinha, who just looked, not for the first time, a bit imprecise and one-dimensional in the heart of Saturday’s midfield battle.

Sometimes, the ball came to him and he lost it. Sometimes, Spurs just bypassed him and went wide instead.

We are still in the very early days of the Frank era and the overall picture is good, but it feels as if this season will stand or fall by these home league games against non-elite sides.

Frank was brought in from Brentford to raise Tottenham’s floor, rather than their ceiling. But if they struggle to convince in a match like this, fans will ask what the plan is for such games, and how Spurs can better impose their will upon them. And whether Palhinha, the indispensable man for the harder games, the man who rescued a point against Wolves, is always the right answer on a night like this.

(Top photo: Shaun Brooks – CameraSport via Getty Images)

Tottenham 1 Wolves 1 – A late point, but a missed opportunity? Are injuries a growing concern? Why were they so flat?

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Tottenham 1 Wolves 1 – A late point, but a missed opportunity? Are injuries a growing concern? Why were Spurs so flat? - The New York Times
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Tottenham Hotspur rescued a point at home to Wolves on Saturday evening, drawing 1-1 with the Premier League’s bottom side thanks to a 94th minute goal from Joao Palhinha.

Spurs, with Pedro Porro rested and Djed Spence switched to right-back, struggled to get a foothold during the first half as the visitors defended impressively. And it was winless Wolves who took the lead, Santiago Bueno poking the ball home from close range after a defensive scramble following a set-piece caused goalkeeper Guglielmo Vicario some problems. Any hopes this setback would spur the hosts into action were misplaced, with the visitors from the Midlands continuing to look the more dangerous side.

Thomas Frank introduced Porro, Brennan Johnson, Pape Sarr, Wilson Odobert and Mathys Tel to try to turn the game in his team’s favour, but it was holding midfielder Palhinha who rescued a point with a neat finish from the edge of the box. The goal was Spurs’ first shot on target in the second half, which tells its own story.

Jay Harris and Jack Pitt-Brooke break down the key moments from a frustrating evening for Tottenham fans.

Was this a missed opportunity on a chaotic day in the Premier League?

It was shaping up to be the perfect weekend for Spurs. Chelsea, Manchester United and Liverpool all lost earlier on Saturday, while either Newcastle United or Arsenal will drop points when they face each other on Sunday at St James’ Park.

Wolves had lost all five of their games in the top-flight this season and conceded 12 goals in the process. If Spurs had inflicted a sixth defeat, they would have moved up to second in the table. We might be little more than a month into the new season, but another victory would have maintained their early momentum under new head coach Frank.

Instead, Spurs failed to beat Wolves yet again, having dropped four points against Vitor Pereira’s side under Ange Postecoglou last season.

Frank tried every trick possible to reverse their fortunes, including sending on Porro, who had been rested, along with Odobert, Tel and Johnson. When striker Tel replaced full-back Destiny Udogie in the 83rd minute, Tottenham even switched to an aggressive 3-4-3 formation.

Few of these tweaks had the desired effect, however.

Spurs threatened on a couple of occasions in the first half through Mohammed Kudus and Lukas Bergvall but were toothless after half-time. As they became more desperate, Palhinha and centre-back Cristian Romero tried to score from long distance but fired their shots over the bar, before the former finally made an effort count deep into added time.

A draw is clearly better than a defeat, but this was an insipid performance at home when a victory would have given these players real confidence they can achieve something special this season.

Jay Harris

Can Frank deal with injuries better than Postecoglou did?

The fundamental problem Tottenham struggled with last season was how to manage their limited resources through the twin demands of domestic and European competition. They simply did not have a sufficiently deep or robust squad to cope, and while their Europa League campaign ended in triumph, it clearly came at the cost of domestic matters as they finished 17th.

Frank needs to find a way to manage his squad through the Premier League and Champions League campaigns, and tonight felt like a reminder of how difficult that will be.

Spurs are not dealing with a severe injury crisis yet, but are missing enough players to limit their options in games like this. With strikers Dominic Solanke and Randal Kolo Muani both out, Richarlison has had to carry the attack, and if he is not at his best it blunts the whole team. With James Maddison and Dejan Kulusevski both recovering from knee surgeries, there is not a lot of creative quality in midfield either. Much is riding on new signing Xavi Simons but he was not in top form here either. Bergvall cannot do it all himself.

This is still a squad that should be good enough to beat Wolves at home, but this match was also a reminder that it does not take much for Spurs to look a bit flat, predictable and thin on the ground.

Maddison and Kulusevski will not be back any time soon, but they certainly need Solanke and Kolo Muani to return as quickly as possible.

Jack Pitt-Brooke

Why were Spurs so flat-footed?

Palhinha, Rodrigo Bentancur and Sarr started together in the 1-0 defeat to Bournemouth here last month. It was a disciplined and hard-working midfield combination that lacked creativity. Bergvall started instead of Sarr against Wolves, but Tottenham experienced a similar issue.

With Simons shunted out onto the left wing, Bergvall seemed to be the only player in the home side capable of progressing the ball in central areas.

Bergvall is quickly forging an excellent relationship with newcomer Kudus and they combined delightfully for a ‘goal’ which was unfortunately ruled out for a fairly clear offside. However, they were the only players to inject any spark into Tottenham’s attack.

Simons underperformed. He whipped in one fantastic cross for Kudus, whose header was tipped onto the bar by Sam Johnstone but apart from that moment, the Netherlands international kept losing the ball. He would either dribble for too long and get crowded out or overhit simple passes. A reckless tackle on Marshall Munetsi, which led to a yellow card, summed up his evening — everything was completely off the pace. Simons moved into the No 10 role in the second half but still struggled to make an impact.

Spurs need to become much better at creating chances from open play. Udogie looked threatening on the overlap but his crosses were ineffective. Richarlison lacks Solanke’s abilities to link the play up and offer a threat when running in behind the opposition. Even when Bueno scored for Wolves early in the second half, there was a lack of urgency.

After improving the defence so quickly following his off-season switch from Brentford, Frank still has a lot of work to do to make this team look slick going forward.

Jay Harris

What did Thomas Frank say?

Speaking to Sky Sports after the game, the Spurs boss was in a reflective mood. “I think we played a good first half. Without having enough clear cut chances we got into dangerous situations, some good situations we didn’t get enough out of.

“The second half I think we started ok, and then after the (Wolves) goal I felt we lost a little bit of of control. We didn’t keep the structure enough, we were rushing too much in my opinion. The effort and the mentality of the players was fantastic, staying in the game and keep on pushing and I think we got a well-deserved equaliser in the end.”

Speaking to The Athletic post-match, Frank pointed out that Spurs have had a poor record against Wolves recently. “I think if you look before the game, you would say there was a good chance for us to win. But I said this before the game, we haven’t beaten Wolves the last five times and now it is six times in a row. A team that has lost the first five (games) there is a time where they will get something.

I also said before the game they played very even games so it is never easy. That said, I hoped and believed if we hit a top performance we would win. We didn’t hit a top performance. I think we hit an average performance but you do that some times. We got a point where not everything worked and we move forward.”

What next for Spurs?

Tuesday, September 30: Bodo/Glimt (away), Champions League, 8pm UK, 3pm ET

(Top photo: Ian Kington/AFP via Getty Images)

Tottenham say they have ‘unequivocally rejected’ Brooklyn Earick’s expression of interest to buy club

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Tottenham say they have ‘unequivocally rejected’ Brooklyn Earick’s expression of interest to buy club - The New York Times
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Tottenham Hotspur have announced that they have received and “unequivocally rejected” an expression of interest from a consortium led by Brooklyn Earick.

Earick, an American former DJ and tech entrepreneur, was reported to be planning a £4.5billion bid for Tottenham, per The Sun. A source close to the Lewis family described it as “unsolicited and unnecessary interest”.

While Tottenham have not received a bid from Earick and his consortium, they confirmed to the London Stock Exchange on Friday morning that they had rejected Earick’s interest, while reiterating that they are not for sale. The consortium is now required under the City Code to either announce a firm intention to make an offer for the company, or announce that it will not, by October 24.

The statement says that the Tottenham board is “aware of recent media speculation” and that its majority shareholder ENIC “has received, and unequivocally rejected, an informal expression of interest” in buying the club from Earick. “The Board of the Club and ENIC reconfirm that Tottenham Hotspur is not for sale and ENIC is not looking to sell its stake in the Club.”

A source close to the Lewis family added this afternoon: “This unsolicited and unnecessary interest does nothing to change the family’s resolve and commitment to do whatever it takes to drive success on the pitch. The club is not for sale.”

Tottenham have been very clear over recent weeks that they are not for sale. On September 7, the club released a similar statement announcing that they had “received and unequivocally rejected” two other expressions of interest, one from Amanda Staveley’s PCP International Finance and the other from a consortium called ‘Firehawk Holdings Limited’.

Tottenham will have their first board meeting since Levy’s departure today (September 26).

(Photo: Jose Breton/Pics Action/NurPhoto via Getty Images)

How Tottenham sacked Daniel Levy – and how they’ve filled the void in the weeks since

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How Tottenham sacked Daniel Levy – and how they filled the void in the weeks since - The New York Times
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For almost a quarter of a century, everything at Tottenham Hotspur revolved around Daniel Levy. He ran the club with total knowledge, total control, and his word was always final.

But when Levy was sacked on September 4, he wasn’t even allowed into the training centre to retrieve his possessions. Nor was his wife Tracey, who worked at the club until the day Levy was sacked. Their belongings were eventually returned by van.

A separation this sharp is standard practice in the corporate world. It would be the same at any blue-chip company. But it is still a remarkable moment in the world of Premier League football, an instant transformation of status for one of its best-known figures.

That glistening glass and metal training centre in Enfield, opened in 2012, was one of Levy’s biggest achievements at Spurs.

This was a facility worth boasting to the world about, far removed from the club’s rickety old home in Chigwell, Essex. This was where Levy would base himself, and where he would proudly take meetings. Until this month, that is, when the king found himself locked out of his own castle for good.

Of course, the central fact of the events of early September is that Levy was never quite as much the king of Tottenham Hotspur as he appeared to be. Even if he ran the club like he was an owner (he almost ran it like a founder), true power lay with the Lewis family. And they exercised that power in a brutal, ruthless way on September 4.

Levy is now left out in the cold, bruised, wounded, still with his minority shareholding in Spurs but with no executive voice.

Meanwhile, Tottenham — and by extension the Lewis family — have a hierarchy with a Levy-shaped hole in it that they need to fill.

When Peter Charrington chairs the first meeting of the post-Levy board on Friday, it will mark a historic break with the past 24 years.

Levy’s downfall was so sudden that even he had no idea on that Thursday morning that his tenure at the club was about to end.

It felt like just another week at the start of an international break and came a couple of days after the closing of the summer transfer window.

Tottenham had lost their home game against Bournemouth on the Saturday, but they paraded Netherlands international winger Xavi Simons on the pitch beforehand, his signing from RB Leipzig having been a significant personal triumph for Levy. The chairman had been as involved as ever in Spurs’ transfer business over the prior weeks and months. Losing out to neighbours and arch-rivals Arsenal for Crystal Palace’s England forward Eberechi Eze in late August was painful, but Levy was determined to finish the window strongly, and on its last day, they also signed France striker Randal Kolo Muani on loan from Paris Saint-Germain.

After a long summer, it was time for everyone at Spurs to take a breath.

But then Levy walked into a meeting with Charrington, who the Lewis family had appointed to the board six months before, on what should have been a quiet day.

Instead, one era of Tottenham ended and another began.

However, even if the timing was a shock — not least to Levy himself — this did not come entirely out of the blue either.

The Athletic reported on the night of Levy’s dismissal that the Lewis family had increased their scrutiny of club affairs over the course of 2025, trying to get to the bottom of why exactly Spurs were underperforming on the pitch. Even though last season ended in triumph with victory in the Europa League final, it was a miserable experience in the Premier League. Tottenham looked like a team getting further away from the best sides in the country, rather than closing the gap, as they finished 17th, above only the three relegated clubs. More than six years after the opening of their new stadium, this was not meant to happen.

So in March, the Lewises appointed Charrington, a veteran private banker and senior partner at their luxury resort brand Nexus, to the board. At the same time, they hired United States-based management consultancy firm Gibb River to go into Tottenham and speak to senior staff about what was going wrong. Why was this football club, with some of the best facilities in the world, no longer competing on the pitch?

This review led to staffing changes that were significant enough on their own terms, even before the departure of Levy. First was the announcement that Vinai Venkatesham would be arriving as chief executive in June, the first time in two decades-plus under the ownership of the Lewis family’s ENIC investment group that Spurs had someone in such a role. Then there was the departure of board member Donna Cullen, a long-standing Levy ally and one of the most influential figures behind the scenes at the club throughout his tenure.

The summer was busy enough anyway, just for football reasons. There was a change in the structure, with chief football officer Scott Munn leaving. There was a change of head coach, with Brentford boss Thomas Frank replacing Ange Postecoglou. There was a demanding transfer window, where Tottenham desperately needed to reinforce their first team. Only once that was done could they make the final and most important move of all.

There was another story in the background this year, aside from debates over whether or not Levy was running Spurs well.

This concerned the future ownership of the club.

It was no secret that during the final years of his chairmanship, Levy was pursuing the idea of selling a stake in Tottenham. The idea, in short, was that he would find a new investor who would buy a big chunk of shares — something along the lines of 10 per cent of the club for £400million. Levy was very open about this, saying in public in 2024 that the operation “requires a significant increase in its equity base”. In private, his pitch to potential investors was that he had built the platform for Spurs and now needed to raise substantial capital for the next phase of their growth.

Such a deal, had it happened, could even have altered the balance of power at the club. New money and a new backer would have given Levy what he was looking for.

Over the course of this year, though, a new theory started to emerge. That there might be a larger investment, not just for a minority stake, but for a new investor or consortium buying out the Lewis family’s majority shareholding. And that under this scenario, Levy might be asked continue to run Tottenham on behalf of a different backer, although well-placed sources have denied these talks ever took place.

Clearly, no such deal, whether for a smaller stake or a larger one, ever materialised. And the Lewis family have made clear their own position on this over the course of this month, that the club is not for sale, and the search for fresh external investment is over.

Now he is out, Levy is stuck in a rare position. His family still own 29.88 per cent of ENIC’s majority shareholding, and therefore roughly 26 per cent of the club. But now that he is off the board, his options are limited. Levy has no control, no decision-making power and no voice. If Levy wanted to attend a game at the stadium that he oversaw the construction, and watch the team he has supported since childhood, you may be more likely to see him in the stands than back in the executive box.

It is not only Levy who finds himself in a strange situation this autumn. Just as he has to get on with life without Tottenham, they have to get on with life without him.

Because it is difficult to overstate how powerful and dominant Levy was at the club who got rid of him three weeks ago. There was not a football executive in the Premier League quite like him. Not only for longevity, but also for authority. Levy’s word was gospel at Spurs. He oversaw every detail at the club, from the specific designs of their new stadium to the finer points of transfer negotiations.

Levy’s work ethic and attention to detail meant that he was the ultimate driver of standards across the club. Staff knew that whenever he walked into the restaurant at the training centre — even if he was wearing jeans and a T-shirt rather than a suit — it was time for them to switch on. They also knew that Levy was the ultimate arbiter if they had to come to him with a serious issue. For better or worse, he created a very particular, personal culture at Tottenham, one that is now being replaced with something else.

The challenge at Spurs in the past three weeks has been to find a new way of working, a new way of organising the club, adjusting to this huge change while also keeping the show on the road. The phrase that Venkatesham has used is “business as usual”, which sounds unlikely given the historic nature of the changes, but in a sense, he is right. The relentlessness of the football calendar effectively forces everyone to keep moving forward.

So life at Tottenham has continued; it has just looked very different.

On September 9, there was a long-planned meeting with the club’s Fan Advisory Board. The FAB and senior club figures get together quarterly at Lilywhite House, next to the stadium. Levy attended these sessions in the Septembers of 2023 and 2024, but this month’s edition came just five days after his sacking. It was Venkatesham who was there, alongside Matthew Collecott, the club’s long-standing operations and finance director, and one of the most important figures through the long Levy era. Charrington, Venkatesham said, hoped to attend the next round of FAB talks, which are likely to be in December.

This summer’s events have left Venkatesham as the most important individual in the running of Tottenham. For his first three months at the club, he was working alongside Levy, but since the events of September 4, he has had full control of the steering wheel. He told the FAB that a new Executive Leadership Team (ELT) has been set up, consisting of himself, Collecott and what will eventually be six other senior figures, including the newly appointed chief marketing and chief communications officers. This is the new model, the new corporate structure, with power less centralised at the top.

Venkatesham has also found himself thrust into a different role: the public face of the club. Ever since his arrival, it has been a priority for Spurs to communicate more openly with the public than they used to. After Levy’s sudden departure, fans were waiting for answers, and it was Venkatesham who spoke to them on behalf of the new hierarchy. On September 8, the club released a nine-minute video interview with him, recorded at the training ground, when he paid tribute to Levy and talked up the ambitions of the Lewis family.

When Tottenham played their first home game after Levy’s removal — against Villarreal in their Champions League opener on September 16 — the matchday programme carried ‘A Message from Vinai’ that ran along similar lines to that video. At a Premier League meeting a week later, it was Venkatesham, a veteran of these environments from his time at Arsenal, who represented Spurs.

The ultimate power, of course, still lies with the Lewises. That has been the unambiguous lesson of this historic month at Tottenham. While the family have never courted publicity, the removal of Levy means attention and scrutiny are unavoidable. They are the masters now. So they have a balance to strike, needing to be visible while making clear that the days of top-down control are over.

So Vivienne Lewis has been ever-present at the club’s games this month, usually sitting alongside or close to Venkatesham in the directors’ box.

For the 3-0 away win against local rivals West Ham United on September 13, the first game of the post-Levy era, she sat next to her son-in-law Nick Beucher, a co-CEO of Tavistock Group (the family’s investment company, which is the majority owner of ENIC and by extension Spurs) and a passionate Tottenham fan, who is primarily based in the U.S. state of Florida. When Spurs beat Villarreal 1-0 three days later, Vivienne was one place along from her brother Charles Lewis, who was alongside Venkatesham, with Charrington one seat further over. Vivienne was also at the game in Brighton last weekend and Wednesday’s Carabao Cup win at home to League One side Doncaster Rovers.

In time, she may even effectively replace Levy as the recognisable figure up in the posh seats that TV producers cut to whenever Tottenham score.

But the whole point of the new operation is that neither Vivienne Lewis nor Charrington, nor in fact anyone else, is a direct replacement for Levy. That old model of an all-powerful executive chairman is history. There has been a lot of talk this month about “empowering” the executive team — led by Venkatesham — and allowing them to get on with the job of running the club. The Lewis family do not want to get their hands dirty with the daily operations. Nor, so far, have they wanted to speak publicly and in detail about their plans for Spurs beyond the statement from the board, released late on September 7, clarifying that “Tottenham Hotspur is not for sale”.

The new era will continue today — September 26 — with the first official meeting of the post-Levy board, chaired by Charrington, and made up of Venkatesham, Collecott and independent director Jonathan Turner. Vivienne Lewis and Beucher will meet club staff at a drinks event afterwards. Vivienne Lewis and Beucher will both be in attendance for the Premier League home game against Wolverhampton Wanderers tomorrow.

Eventually, the fans will want to hear more specifics about the owners’ intentions. Right now, the focus for many is on the fact that Frank’s team has started the season well, losing just once in seven games since coming close to beating Champions League winners PSG in the UEFA Super Cup on August 13 before defeat on penalties. The summer signings are settling in, and the new-head-coach optimism has not yet dissipated.

But the club’s revised structure will inevitably face tests.

When the next transfer window opens in January, it will be the first in a generation that Tottenham will face without Levy there to negotiate with other clubs and agents. Sources within the football industry have wondered whether it will be Venkatesham or technical director Johan Lange tasked with speaking on Spurs’ behalf. Or whether Fabio Paratici, one of Levy’s trusted allies and the man who bought many of the current squad, will continue his work for the club. He attended the Villarreal match and looked as invested in Tottenham’s success as ever. But there is real confidence inside the club about Johan Lange’s record in the market, and the experience of Director of Football Operations Rebecca Caplehorn to handle the windows ahead.

This, in essence, is the challenge of the new era.

Removing Levy was just one act. Replacing everything that he did, and building what almost feels like a new club, while the football season continues, is another thing entirely.

Additional reporting: Jay Harris

(Top photos: Getty Images; design: Eamonn Dalton/The Athletic)

The Prospects: Luca Williams-Barnett, Tottenham Hotspur

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The Prospects: Luca Williams-Barnett, Tottenham Hotspur - The Athletic - The New York Times
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The Athletic continues its weekly search for the most exciting prospects coming through club academies with a trip to Leicester City to watch Tottenham Hotspur’s under-21s, who have made a fine start to the season.

In the same way Thomas Frank’s senior side have been prolific scorers in the top flight to date this term, Wayne Burnett’s under-21s are the Premier League 2 top scorers, thanks largely to their 6-3 victory at Leicester’s Seagrave training ground.

There were plenty of impressive displays that night, but one young player stood out with a dazzling first-half showing.

It is not often that a pre-match plan comes together so perfectly, but The Athletic was there mainly to watch one young player who did not fail to deliver — and was rewarded with a senior call-up a few days later.

The player

Player: Luca Williams-Barnett

Club: Tottenham Hotspur

Date of birth: October 1, 2008 (16)

Position: Attacking midfield

The backstory

Williams-Barnett has been in the Tottenham academy since the age of 10 having begun his football education at hometown club Luton Town.

Having long been considered a strong prospect for the first team, his progress through the youth ranks has been accelerated in recent seasons. He was an unused substitute for the Europa League matches against Roma and Galatasaray last autumn and, a few days after the under-21s’ win at Leicester, made his first-team debut as a late substitute in Wednesday’s 3-0 Carabao Cup third round victory over Doncaster Rovers.

Williams-Barnett replaced Mathys Tel in the 87th minute; as a senior player, he was duly assigned the Spurs legacy number 900.

Frank had praised Williams-Barnett’s composure, technique and vision in the build-up to that Doncaster tie with the club’s first-team academy transition coach Stuart Lewis having kept him abreast of the teenager’s progress.

“It’s always a pleasure to be part of a young player’s debut,” said the Tottenham manager post-match. “But it’s one thing to make a debut when you’re 16. The next step, and much more important, is how Luca moves forward. It’s very tough to keep going and then get into the first team as a really regular player. But the first step is very important.”

Last season he had impressed in the under-18s with 20 goals and 12 assists from 23 games and became renowned for his ability to take on defenders and his long-range shooting.

In fact he won the under-18s’ goal of the season when he scored against Leicester from just inside the opposition’s half, and he almost repeated the feat again in the second half last Friday night…

What we saw

It was actually his predatory instincts and ability to be in the right place at the right time that were key to his first-half hat-trick.

Playing in a floating No 10 role behind central striker Rio Kyerematen, Williams-Barnett would often change positions with left-sided forward Oliver Irow and immediately displayed a desire to get on the ball and run at the Leicester defence, giving central defender Kevon Gray a torrid time in particular.

His first goal, scored inside two minutes, may have had an element of good fortune about it as it was Gray, in attempting to clear a dangerous low cross, who inadvertently played his clearance onto Williams-Barnett and the ball looped into the net, but his positioning certainly was not fortuitous. He was in the right place at the right time to restore Tottenham’s lead with his second, slotting home the rebound after Yusuf Akhamrich’s shot was saved by the Leicester keeper, Stevie Bausor.

Williams-Barnett was at the heart of most of Tottenham’s dangerous attacks and took the set pieces as well.

He had another effort cleared off the line and teed up Akmanrich before completing his hat-trick five minutes before the break, showing composure and an impressive first touch before finishing well from just inside the penalty box.

He was quieter in the second period as he tired but still offered moments of quality, teeing up Leo Black for the sixth. Tottenham could have scored more had Williams-Barnett picked out the unmarked Kyerematen having dragged three Leicester defenders towards him with another threatening run.

His team-mates may have been unimpressed with that particular decision but, overall, it was a match-winning performance from Williams-Barnett, who showcased the potential that helped earn that senior bow a few days later.

“Some of his football is very, very good,” Burnett said after the Leicester game. “He’s an intelligent footballer for such a young man. He’s got ability, he’s got talent. You can clearly see that.

“He has to keep working. He has to keep developing, but he can be very, very exciting at times and we’re pleased to have him.”

It was difficult to tell that Williams-Barnett is several years younger than many of the other players on show, although he did fade physically in the second half.

That strength and stamina will come as he grows over the next few years, but it was clear he possesses are the raw ingredients — and natural talent — to succeed.

(Top image: Justin Setterfield/Getty Images)

Mathys Tel’s uphill struggle to establish himself at Tottenham Hotspur isn’t getting any easier

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Mathys Tel’s uphill struggle to establish himself at Tottenham Hotspur isn’t getting any easier - The New York Times
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The only thing missing from Tottenham Hotspur’s 3-0 victory over Doncaster Rovers in the third round of the Carabao Cup on Wednesday night was a goal for Mathys Tel.

The France Under-21 international finds himself in a strange situation in north London. He was convinced to leave Bayern Munich and join Spurs, initially on loan for the second half of last season, by former head coach Ange Postecoglou. The deal contained an option to buy for €55million but he struggled to impress and only scored three goals in 20 appearances. Spurs renegotiated with Bayern and by the time they signed Tel permanently, on a six-year contract for €35m, Thomas Frank had replaced Postecoglou.

As part of the hiring process, Frank and other candidates were asked to assess the squad’s strengths and weaknesses. Maybe it is just a coincidence that Tel joined Spurs permanently three days after Frank was appointed, or maybe the 51-year-old had to grant his blessing first.

Due to a lack of locally-trained players, Spurs had to name a reduced squad for the league phase of the Champions League. James Maddison, Dejan Kulusevski and Radu Dragusin were left out while they recover from long-term knee injuries. The surprising exclusion was Tel, who scored twice in 16 appearances for Bayern in the competition.

Wednesday’s cup tie against Doncaster was the 20-year-old’s second start of the season, after playing centrally in the 3-0 win against West Ham United, and another opportunity to impress with loan signing Randal Kolo Muani unavailable due to a dead leg.

When Kolo Muani and Dominic Solanke return to full fitness, it is difficult to see Tel receiving a lot of game time. On the left wing, he faces competition from his international team-mate Wilson Odobert, €60m summer signing Xavi Simons, and last season’s top goalscorer Brennan Johnson.

Tel started positively against Doncaster. In the second minute, Simons drove forward with the ball to the edge of the box and he laid it off to Odobert. Tel ghosted in front of his marker but it was an awkward angle and his first-time flick from Odobert’s cross went over the bar.

Less than sixty seconds later, he held off a defender and played a great pass around the corner for Archie Gray. Tel darted forward as Johnson aimed a cross towards the penalty spot. Tel stepped back and somehow failed to cleanly strike the ball instead of drilling it past Doncaster’s goalkeeper Ian Lawlor. A similar situation happened in the second half and he mishit the ball again.

Those moments summed up his night and, if we are being honest, his entire time with Spurs. There have been flashes of promise but no end product.

It is not all Tel’s fault. He was unfairly paraded as a statement signing in February. Spurs were in the middle of an injury crisis and what they desperately needed was an experienced striker. They tried to sign Kolo Muani, who moved to Juventus from Paris Saint-Germain for six months instead, and enquired about Yoane Wissa, but Brentford did not want to sell in the middle of the season.

Tel made his debut for Spurs in a 4-0 defeat to Liverpool in the second leg of a Carabao Cup semi-final. He left Bayern, who went on to win the Bundesliga and scored 99 times in 34 games, for an underperforming side with barely any fit players. He is still figuring out what his best position is. This season should be considered a fresh start for him.

Frank said it was an “extremely difficult decision” to leave Tel out of the Champions League squad and that he handled it “maturely”. Tel might not have scored against Doncaster but he was probably guilty of trying too hard to make things happen against the League One side, and was brimming with energy. He made a couple of clearances from set pieces and was applauded by Rodrigo Bentancur for not backing out of an aerial challenge in the middle of the pitch. Tel finished the game with grass stains smeared across the back of his shirt.

Tel, and frustrated supporters, should be encouraged by Frank’s track record of developing talent. He converted Wissa, Ollie Watkins and Kevin Schade into No 9s during his time with Brentford. Frank also helped Ivan Toney to break the Championship goalscoring record and thrive in the Premier League by telling him to focus on attacking the six-yard box — he has given the same advice to Tel.

“You can see his ability in this game to arrive in the box and the pace he (has) got running behind, and getting into the right areas,” Frank said. “It’s good. His pressing ability is very good. I like the way he works in that situation and then, his link-up play is something that is a good level, but he can be even better.

“He really wanted to score and do well. Unfortunately, as a striker, that (is what) you get measured on. Exactly the same as a goalkeeper: you need to get measured. You can’t throw it into your own goal but I think, as I said before, the overall performance was really a step forward. I really wanted him to score as well because that would make it an even better story.”

The problem for Tel is that his game time, which is already low, could drop. Solanke has returned to full training as he continues his recovery from a persistent ankle injury. Richarlison has scored three times in five league appearances. Tottenham’s opponents in the fourth round of the Carabao Cup are the holders Newcastle United. Tel might not be the best option up front at a raucous St James’ Park.

Whenever he starts again, he cannot afford to waste the opportunity like he did on Wednesday.

(Top photo: Justin Setterfield/Getty Images)

Tottenham’s Dejan Kulusevski has ‘good chance’ to return from injury before end of 2025

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Tottenham’s Dejan Kulusevski has ‘good chance’ to return from injury before end of 2025 - The New York Times
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Tottenham Hotspur head coach Thomas Frank has said that there is a “good chance” Dejan Kulusevski will return from injury before the end of the year.

Kulusevski hurt his right knee in Tottenham’s 2-0 defeat by Crystal Palace in May. The 25-year-old underwent surgery on his patella (kneecap) and missed their Europa League final victory over Manchester United.

Kulusevski was a key player for Spurs under former head coach Ange Postecoglou but he has spent the last few months recovering from his operation. The Sweden international scored 10 goals and recorded multiple assists last season, including Pedro Porro’s strike in the second leg of their Europa League semi-final win over Bodo/Glimt.

“Kulusevski is a top player, I always liked him when I saw him from afar,” Frank said before Spurs’ Carabao Cup tie against Doncaster Rovers on Wednesday night. “He is a key player for us, a key player for me. Instead of putting an exact month, I just want him back as soon as possible. The medical guys and Kulusevski are working very hard on that. It’s not tomorrow but hopefully not too far away.”

Randal Kolo Muani and Ben Davies are unavailable to face Doncaster because of “minor” injuries, Frank added. Kolo Muani played once for Spurs since he joined them from Paris Saint-Germain on the final day of the transfer window.

Kota Takai and club-record signing Dominic Solanke took part in training on Tuesday but are unlikely to feature against Doncaster.

What could Kulusevski’s return mean for Spurs?

Kulusevski was sensational for Spurs at the beginning of last season.

He predominantly played in a central attacking midfield role and became the team’s chief creator under then head coach Ange Postecoglou.

He faded in the second half of the campaign because Tottenham’s injury crisis afforded him barely any rest. Kulusevski then missed a month of action with a foot issue before his campaign ended a couple of weeks early after he hurt his right kneecap in a defeat to Crystal Palace on May 11.

Kulusevski and James Maddison’s lengthy absences are a key reason why Spurs spent the majority of the summer trying to sign a creative midfielder. They missed out on Morgan Gibbs-White and Eberechi Eze before signing Xavi Simons from RB Leipzig in a €60million deal.

Kulusevski’s return from injury would give Frank an extra attacking option in the No 10 role and an alternative to Mohammed Kudus on the right wing. Kudus has started every game for Spurs this season and will need a rest at some stage.

It will take time for Kulusevski to return to top form after spending such a long time on the sidelines.

If he can reach the levels that he set this time a year ago, then he could be crucial for Frank’s Spurs who have struggled to consistently create chances from open play this season.

(Photo: Ben Stansall/AFP via Getty Images)

Thomas Frank said Tottenham just delivered their ‘most complete performance’ yet. Is he right?

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Thomas Frank said Tottenham just delivered their ‘most complete performance’ yet. Is he right? - The Athletic - The New York Times
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For the second year in a row, Tottenham Hotspur’s game against Brighton & Hove Albion at the Amex Stadium featured a dramatic comeback.

Last season, Spurs collapsed after leading 2-0 at half-time and conceded three times in 21 minutes. It was a defeat that punctured the momentum under then-head coach Ange Postecoglou. On Saturday afternoon, it was their turn to come from behind. They did not manage to find a winner, but rescued a point. Thomas Frank, who replaced Postecoglou in June, boldly claimed that it was their “most complete performance of the season”.

“We conceded two goals but it is never that black and white,” Frank said. “We defended well. The high pressure was very aggressive and we were winning the ball back more or less all the time. In phase one, we got out every time, more or less. We controlled it up there and we created many good opportunities. Counter-pressing and rest defending. On top of that, the mentality to come back from two goals down is so important.”

Jan Paul van Hecke’s 82nd-minute own goal might have slightly clouded Frank’s judgement because there were multiple occasions in the first half where Spurs looked vulnerable. The 51-year-old said, “I don’t think Brighton were over the halfway line in the first 10 minutes,” but after that, they started to control the game.

Frank described Destiny Udogie, who made his first start of the season after fully recovering from a knee injury, as “exceptional” and that “he was almost unstoppable going forward”.

The Italy international provided a lot of dynamism from left-back but the issue was how Brighton targeted the space he vacated. Yankuba Minteh and Georginio Rutter kept darting into that gap, stretching Spurs’ defence. On one occasion, Brajan Gruda burst down the right wing and Micky van de Ven nearly shoved him into the linesman in his desperation to prevent another dangerous attack.

Frank praised his team for the barrage of corners and crosses that they launched into the box but a lot of them were ineffective. A minute after Minteh opened the scoring, Richarlison rolled Van Hecke and played a smart pass out wide to Wilson Odobert, who was making his first start of the campaign too. Odobert’s cross with the outside of his right boot was poor but Richarlison should have shown more urgency to catch up with him.

It happened again in the second half when Udogie flew past Joel Veltman and looked up to see nobody attacking the six-yard box. By the time he attempted the cross, Brighton’s defence had recovered their positions. Frank even admitted that “if Richy had run in the right gaps, he could have scored maybe two more goals today”.

However, Tottenham’s second-half performance was encouraging. Frank waited until the 61st minute before he made his first substitution, with Xavi Simons replacing Rodrigo Bentancur.

Frank keeps insisting that Simons can play in multiple positions, but based on his electric cameo against Brighton, he has to be the starting No 10.

Simons is only 22 and less experienced than the other creative midfield targets Spurs chased in the summer, including Eberechi Eze and Morgan Gibbs-White, but his decision-making is consistently good. He seemed to perfectly understand when it was the right moment to dribble at the opposition or make a simple pass to a team-mate.

Within the first eight minutes of coming off the bench, Simons had three chances to score with his right foot. The Netherlands international creates space with his clever off-the-ball movement. The way he linked up with Lucas Bergvall and Mohammed Kudus down the right wing in the second half was crucial to Spurs eventually finding an equaliser. It cranked up the pressure on Brighton and prompted Fabian Hurzeler to switch formation to a back three.

The most pleasing aspect of the performance was the resilience they showed. Spurs lost 22 times in the league last season and there were lots of occasions where they crumbled after conceding. They had plenty of potential excuses lined up for them here: this was their third game in eight days after victories over West Ham United and Villarreal; Frank is experiencing European competition for the first time, embedding new players into the squad and finding a way to cope without club-record signing and first-choice striker Dominic Solanke; Randal Kolo Muani missed the game with a dead leg.

After conceding twice in the first 31 minutes, things could have become ugly. But Frank was in constant communication with his assistants as they looked to find ways to threaten Brighton.

After equalising, it looked like he had made two defensive substitutions by replacing Pedro Porro and Lucas Bergvall with Djed Spence and Archie Gray. The pair then combined down the right wing in stoppage time and created a chance for Kudus but his shot was deflected for a corner. Everybody was proactive. They came away frustrated at not winning instead of relieved they earned a draw.

This result should give Spurs and Frank belief. They have been excellent this season when they take the lead but faced a completely different challenge on Saturday. Having lost twice to Brighton during the 2024-25 campaign, this represents progress.

Frank’s claim that this was their “most complete performance of the season” might seem slightly bizarre when you consider they beat Manchester City 2-0 at the Etihad and drew 2-2 with Paris Saint-Germain in the European Super Cup. Maybe he actually meant that this result was significant because of what it represented.

Spurs showed great character and attacking flair in the second half, qualities that had been absent from other games. It felt like the first sign of everything coming together for Spurs, in complete contrast to what happened here 12 months ago.

(Top photo: Alex Pantling/Getty Images)