Daniel Levy has sensationally quit as chairman of Tottenham Hotspur – after the club’s principal owners decided it was time for a change at the top which they hope will trigger more success.

Late on Thursday afternoon, Spurs announced that the 62-year-old, who had been in post for close to 25 years, had stepped down.

However, Daily Mail Sport understands that the move came after the Joe Lewis family carried out a review of sporting performance that has led to sweeping changes.

While Tottenham qualified for the Champions League thanks to victory in the Europa League Final, they ended the Premier League season in 17th and anti-Levy protests were commonplace at matches.

Sources close to the family say they ‘want what the fans want – more wins more often’.

Peter Charrington, a director at majority stakeholders ENIC, which is in turn owned by the Lewis family, was announced as a non-executive director in March and will now become non-executive chairman. Levy’s exit is also likely to increase the influence of Vinai Venkatesham, who was brought in as chief executive earlier this year. Donna Cullen, Levy’s right-hand woman, stepped down as executive director at the end of the season.

Daniel Levy has quit Tottenham after 25 years on the back of the club's owners seeking a change at the top
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Daniel Levy has quit Tottenham after 25 years on the back of the club’s owners seeking a change at the top

Sources close to the Joe Lewis (left) family say they 'want what the fans want ¿ more wins more often'
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Sources close to the Joe Lewis (left) family say they ‘want what the fans want ¿ more wins more often’

Levy’s departure has already prompted feverish speculation over the club’s future, given he and his family hold a 29.4 per cent stake in ENIC and that he has previously claimed to have turned down offers from overseas.

But insiders say the change is aimed at improving Tottenham’s performance on the field and is not linked to a pending bid. They describe the changes, along with the arrival of new manager Thomas Frank, as the start of ‘a new era’.

Regardless, officials at other Premier League sides believe Spurs are ‘ripe’ for a takeover given their location in London, revenue-generating new stadium and elite training facilities. They are also in the Champions League following their Europa League triumph.

Sources in Qatar, where a consortium failed in a bid to buy Manchester United, have distanced themselves from a move for the North London club. Any interest, according to those with knowledge of the situation, would be likely to come from a US investment group. There is also the prospect of potential investment should Levy now sell his stake.

Levy departs after a quarter of a century at the helm. Under his tenure, Tottenham have established themselves as one of English football’s big six. They have qualified for Europe in 18 of the last 20 seasons and reached the Champions League final in 2019.

Levy is also viewed as the mastermind of the £1.2bn stadium, which is viewed as one of the best in world football and is the envy of many others in the top flight due to its ability to generate huge non-football income by hosting a series of other events such as concerts and NFL games. His astute running of the club means he leaves with its finances in strong health and any interested parties are likely to be looking at a price of around £4bn.

However, in recent times fans frustrated with a lack of Premier League success and a perceived lack of spending have protested against Levy and chants have been commonplace at matches. While no detail on his salary has been made public, in 2023 Spurs listed their highest-paid director, assumed to be Levy, as receiving £6.6m.

Insiders have described the changes, along with the arrival of new manager Thomas Frank, as the start of 'a new era'
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Insiders have described the changes, along with the arrival of new manager Thomas Frank, as the start of ‘a new era’

Levy presided over the redevelopment of White Hart Lane and the building of the state-of-the-art Tottenham Hotspur Stadium, which opened in 2019
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Levy presided over the redevelopment of White Hart Lane and the building of the state-of-the-art Tottenham Hotspur Stadium, which opened in 2019

‘I am incredibly proud of the work I have done together with the executive team and all our employees,’ said Levy. ‘We have built this club into a global heavyweight competing at the highest level.

‘More than that, we have built a community. I was lucky enough to work with some of the greatest people in this sport, from the team at Lilywhite House and Hotspur Way to all the players and managers over the years.

‘I wish to thank all the fans that have supported me over the years. It hasn’t always been an easy journey but significant progress has been made. I will continue to support this club passionately.’