Daniel Levy is expected to see his shareholding in Tottenham Hotspur reduced after failing to meet a deadline to participate in a club funding round, according to the Press Association.
The situation stems from a £100m cash injection made into the club over the summer by the Lewis family, which controls Spurs' majority owner ENIC. The Lewis family has taken on a more prominent role in club affairs since Levy departed as executive chairman last September after more than two decades in the role.
That £100m investment increased the Lewis family's stake in Tottenham to roughly 88 per cent. As a minority shareholder, Levy was given the chance to buy a proportionate share of the new funding in order to avoid his own stake being diluted. Sources close to the Lewis family indicated he was afforded a 60-day window to invest at the same price and preserve his approximate 29 per cent holding in ENIC, but he did not meet the cutoff, which fell on Monday.
According to a source close to the Lewis family, Levy had initially agreed to make the financial commitment but ultimately did not follow through even after being given extra time. "Daniel committed to funding and failed to do so, despite the extended deadline," the source told PA. The source added that the family's priorities lie elsewhere: "The family is focused on the football, investing in the team, backing the management and creating a stable environment for the club."
The news comes amid separate, unverified claims that surfaced earlier in the summer suggesting Levy had offloaded his 24.99 per cent stake in ENIC to Brooklyn Earick, an American tech entrepreneur who heads sports investment firm Eight Sports Capital. Earick asserted that Levy had sold his interest in Tottenham's parent company, but ENIC pushed back on that suggestion. A spokesperson for the company stated: "We can confirm that neither ENIC nor Tottenham Hotspur Football Club are aware of any sale by Daniel Levy's family trust of its minority stake in ENIC." PA has sought comment from representatives of Levy but has yet to receive a response.
Separately, the Lewis family is understood to be part of a consortium bidding to acquire a London-based basketball franchise as part of the upcoming NBA Europe league, PA reports, signalling wider ambitions beyond football.
The developments arrive during a transformative period for Tottenham both on and off the pitch. The club has committed £237m to strengthening manager Roberto De Zerbi's squad this summer, part of an aggressive rebuilding effort. Among the notable business conducted, defensive pair Pedro Porro and Micky van de Ven have both put pen to paper on new long-term deals, cementing their futures at the club.
Spurs are not finished in the market, with the club still hoping to bring in additional attacking reinforcements before the transfer window closes in three weeks' time. There is also expected to be further squad turnover, with young forward Yang Min-Hyeok already having completed a season-long loan move to Belgian side Westerlo as the club continues to manage its playing staff.
While the boardroom developments surrounding Levy's shareholding add a layer of intrigue to proceedings at Tottenham, the football club's focus for now remains on finalising summer business and preparing De Zerbi's revamped squad for the season ahead.
Based on reporting from Press Association (via Independent).