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Sports News Correspondent
BBC Sport shot news reporter
A celebrated chant among match-going Tottenham fans astatine nan infinitesimal is: "I don't attraction astir Levy, he doesn't attraction astir me, each I attraction astir is Kulusevski."
Prominent banners astatine nan location conclusion by Leicester past period read: "Our crippled is astir glory, Levy's crippled is astir greed" and "24 years, 16 managers, 1 trophy - clip for change".
A situation of astir 30 abstracted injuries and mediocre shape has near head Ange Postecoglou exposed, irritable, and nether pressure, pinch his broadside 14th successful nan Premier League and retired of some home cups.
The statement astir who aliases what is to blasted for Spurs' struggles is going information successful circles. Alongside Manchester United's failings and Manchester City's decline, it has been 1 of nan narratives of this season.
Fan anger has again been aimed astatine president Daniel Levy - vocalised successful persistent 'Levy out' calls from supporters some location and away.
Club sources told BBC Sport nan protests are "hurting" Levy, who attends almost each crippled and sits stoically done nan criticism.
Tottenham were 1 of nan busiest clubs successful nan January transportation window, but that has not satisfied immoderate fans who criticise a recruitment argumentation chiefly focused connected under-21 players pinch imaginable resale value, and who regularly impeach Levy of acting excessively slow successful nan marketplace and putting profits supra occurrence connected nan pitch.
A 'sit-down' protestation - led by a smaller protagonist group called Change for Tottenham (CFT) - is planned against Levy earlier Sunday's Premier League lucifer against Manchester United.
Last week, nan main instrumentality group - nan Tottenham Hotspur Supporters' Trust (THST) - released 5 halfway principles they want to clasp Levy to relationship on.
Among those principles were demands to "commit to winning" pinch investment; "attract and clasp talent" pinch competitory wages; "develop elite younker talent"; "lead pinch integrity" to beryllium "financially sustainable" while "keeping tickets affordable"; and prosecute pinch fans.
BBC Sport has spoken to respective group connected and disconnected nan grounds to effort to understand nan fuller image of Levy's Tottenham regime.
Some of nan cardinal points made were:
Levy will measurement speech erstwhile he feels it is correct for Spurs and "every action is open" for different early ownership structures
He is "hurt" by protests, "hurt" by results, and has opted to beryllium done nan 'Levy out' chants alternatively than hide away
An acceptance Spurs person not ever spent good successful nan transportation marketplace but belief that caller managers, including Postecoglou, person been backed financially
Club activity consciousness they person travel person to winning much than conscionable nan 2008 League Cup successful nan Enic/Levy era having reached 15 semi-finals and six finals
Sources who person worked pinch Levy opportunity he does not pass good capable and propose nan executive squad are excessively similar, hence occasional "own goals" connected policies.
'Most profitable nine successful Premier League history'
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A banner asking for alteration was displayed astatine full-time aft Tottenham mislaid astatine location to Leicester successful January
Football finance master Kieran Maguire says immoderate chat of Levy's tenure must beryllium framed by Tottenham becoming nan "most profitable nine successful Premier League history" because of nan money their caller stadium generates, a historically little costs building and a "degree of caution" connected transportation spending.
He describes Spurs arsenic a "superb cash-making machine" who person "outperformed immoderate different nine successful England".
Maguire outlined:
His figures show that from 2001 to 2023, Tottenham made £171m profit. Burnley were 2nd connected £159m, pinch Arsenal 3rd connected £105m
In nan past decade, Spurs person nan sixth-highest full costs measure successful nan Premier League (£1.6bn vs Man City's £2.9bn arsenic nan highest); nan sixth-highest transportation walk (£1.3bn vs Chelsea's £2.8bn arsenic nan most); pinch nan fifth-highest nett walk complete a akin period
Tottenham fans salary among nan highest play summons prices and matchday prices successful nan apical flight
Levy has nan highest main executive salary of Premier League clubs that state specified data. In 2023, nan astir caller figures available, Spurs' highest-paid head - unnamed but assumed to beryllium Levy - earned £6.6m.
What is it for illustration to activity nether Levy?
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Daniel Levy has been Tottenham's president since 2001
Club insiders picture Levy, 63, arsenic "shy, quiet and hard-working" - and a man who loves nan nine and is affected by instrumentality criticism. Multiple sources who cognize him person expressed respect for Tottenham's advancement nether his leadership.
One root pinch knowledge of nan soul workings of nan club, who wished to stay anonymous, said Levy tin beryllium "very ruthless" but "genuinely wants nan champion for Spurs".
They claimed immoderate of nan "own goals" - specified arsenic utilizing nan government furlough strategy during Covid successful 2020 and much precocious phasing retired senior concession tickets - are partially because Levy does not "surround himself pinch nan champion people".
They described nan executive activity and nine board, which includes operations and finance head Matthew Collecott and executive head Donna-Maria Cullen, arsenic "people excessively akin to him" who will "sit pinch their heads successful their phones", alternatively than "people who dress up for [Levy's] weaknesses".
The root said Levy does not successfully present his messages astir caring for nan nine because he is not a beardown nationalist speaker and chooses to debar it, adding: "One question and reply aliases being visible erstwhile a twelvemonth is not a lot."
While Tottenham's shot building has changed frequently, including method directors, managing board and heads of shot operations, sources opportunity nan nine rigidly sticks to "Levy's accuracy and recruitment argumentation - to bargain young players pinch committedness who tin adhd value".
Another root who has worked pinch Levy successful nan Spurs hierarchy, besides speaking anonymously, backed his passion for nan nine and said nan thought nan president does not attraction because he seldom shows emotion is "nonsense".
They added that Levy is unrelenting - moving "crazy" hours which tin beryllium reliable and tiring for colleagues - and ever wants more, thing which tin grate pinch group who do not for illustration that style of leadership.
Would Levy ever measurement aside?
Sources astatine nan nine judge Levy will measurement speech erstwhile he feels it is correct for Tottenham.
They opportunity he would not beryllium motivated by vanity to enactment connected if location was an outright takeover - and nan nine remains unfastened to finance pinch each early ownership structures connected nan table.
While Levy whitethorn beryllium nan focal constituent of protests, it was stressed that he is simply a number shareholder of nan nine done his ain family spot - and Enic, itself mostly owned by nan Lewis family trust, remains nan mostly owner.
That intends immoderate alteration aliases acquisition would request support from nan Lewis family, and location are different number shareholders pinch a say.
During nan existent protests, nan THST has expressed vexation but has not called for Levy to leave, dissimilar CFT, which is simply a smaller splinter group looking to use unit successful soul instrumentality authorities and towards nan club.
Other sources agreed nan only realistic measurement successful which Levy would time off Spurs would beryllium connected his ain terms. He is nan Premier League's highest-paid main executive - earning an estimated £50m-plus complete his 25 years successful charge.
This week a Guardian article reported imaginable liking successful Tottenham from an unnamed Qatari consortium, though sources pinch knowledge of Spurs' ownership business played it down.
In 2023, erstwhile Paris St-Germain's owners Qatari Sports Investment (QSI) were exploring nan anticipation of a number liking successful an English club, Tottenham were 1 of nan teams linked. Levy maintains a adjacent narration pinch PSG and QSI president Nasser Al-Khelaifi.
One root added that Levy - a renowned negotiator famously described by Sir Alex Ferguson arsenic "more achy [to woody with] than a hep replacement" - will request a precocious value for Spurs fixed their elite facilities, brand, London premium and nan gross nan nine now generates.
Various reports successful caller years person weighted Tottenham astatine betwixt £3.5bn and £4bn.
Chelsea were bought successful a woody worthy up to £4.25bn from Roman Abramovich successful 2022 by a consortium led by American investor Todd Boehly and backstage equity patient Clearlake Capital. The acquisition value was £2.5bn pinch a committedness to spending £1.75bn complete nan adjacent 10 years.
Meanwhile, Sir Jim Ratcliffe's Ineos bought a 25% liking successful Manchester United for £1.03bn successful December 2023 successful a process which included a rival bid from Qatar's Sheikh Jassim, reported to beryllium nearer to £5bn for 100% of nan club.
Despite those immense sums, some clubs - dissimilar Tottenham - request awesome finance successful their stadiums to unlock bigger commercialized earning potential.
According to nan first source, nan play erstwhile Tottenham were building their caller £1.2bn stadium, betwixt 2017 and 2019, meant Levy was "all-consumed" and nan committee "left everyone to do their jobs".
Spurs secured Champions League shot nether Mauricio Pochettino for 4 successive seasons to 2018-19 - and were beaten successful nan 2019 last by Liverpool.
That root suggested Levy's attack - namely "open to conversations but group successful his ways" - has meant a batch of group pinch off-field expertise person near Spurs complete nan years for much influential jobs.
Paul Barber was an executive head betwixt 2005-2010 and is now Brighton main executive; Michael Edwards was Spurs' main expert from 2009-2011 earlier leaving for Liverpool; FA method head John McDermott was Tottenham's caput of academy and subordinate improvement until 2020; while EFL main executive Trevor Birch was - very concisely - Tottenham's head of shot operations, from September 2020 to January 2021.
It could beryllium based on that galore of these highly-rated executives enjoyed bully careers astatine Tottenham earlier simply moving connected - but nan root claims they "left nan building acold excessively easily".
Another root to person worked intimately pinch Levy astatine Spurs, again speaking anonymously, pointed retired he has delivered "a halfway infrastructure that is astir apt nan champion successful nan world" and suggested that would springiness nan nine "an unthinkable instauration for early occurrence - astir apt aft Daniel's time".
They said it had taken Arsenal 10 to 15 years to get backmost to competing for titles and regularly qualifying for Champions League shot aft they rebuilt their infrastructure, pinch Levy having inherited a dilapidated stadium, aged training crushed and ageing squad.
However, nan root suggested Levy has not yet sewage nan "formula right" by employing nan correct caput coach pinch nan correct players astatine nan aforesaid time.
One disapproval immoderate fans person consistently aimed astatine Levy and Tottenham's executive committee is simply a deficiency of knowing of what it takes to win connected nan pitch.
Levy, Collecott and Cullen person worked together for a 4th of a period - 1 root described them arsenic "the Holy Trinity to an extent" - pinch nan president known to beryllium "loyal to group loyal to him".
They are supported astatine nan apical level by head of shot management and governance Rebecca Caplehorn and non-executive head Jonathan Turner.
The root said that successful their acquisition astatine Tottenham location was nary artifact connected extracurricular aliases different views, but it tin beryllium difficult for newcomers particularly those without an affinity to Spurs.
They added that Levy, Collecott, 56, and Cullen, 61 are "probably an unbreakable group" fixed their longevity and adjacent relationships, but did accent they will not beryllium astatine Tottenham forever.
It was suggested to BBC Sport that individual factors specified arsenic property and nan trio's ain wellness aliases nan wellness of relatives could lead them to "re-evaluate".
Sources wrong nan nine accepted nan various backgrounds of group connected Tottenham's committee mean they cognize much astir business than football, but pointed retired that different six-person committee - which includes main shot serviceman Scott Munn and method head Johan Lange - sits underneath to counsel connected each shot decisions.
They will person a awesome opportunity connected immoderate managerial appointments, while transfers are led by Lange and only finalised by Levy - pinch Munn moving nan remainder of nan shot operation.
Tottenham insiders judge they person not ever spent well, and person made transportation mistakes successful nan past, but judge they person backed caller managers - including Postecoglou - and are happy pinch deals specified arsenic those for Dominic Solanke, Archie Gray and Lucas Bergvall.
It is besides felt that raising profits to grounds levels is nan only measurement Tottenham tin compete pinch teams for illustration Man City and Newcastle and their ownership models.
Spurs sources consciousness they person been adjacent to winning much trophies than conscionable 1 trophy successful nan Enic/Levy era - having reached 15 semi-finals and six finals - and nan 5 different clubs successful nan 'traditional apical six' are either richer aliases bigger.
"We don't make immoderate apologies that we are trying to summation our gross guidelines to put much successful our teams if that intends raising money done concerts to put successful nan teams past I don't apologise astatine all," Levy said astatine September's instrumentality forum.
"We announced pinch our past results that we judge this nine needs a bigger superior guidelines because we've sewage a batch of breathtaking projects connected nan sky and we want to make further finance successful nan teams. Some shape of number finance is what we're looking for."
In a further defence of Levy, 1 root pointed to instrumentality discontent astatine Arsenal proprietor Stan Kroenke successful 2019 and 2021, arsenic good arsenic Manchester United's 12 months of troubles nether caller co-owner Ratcliffe.
They judge a "vocal minority" of fans simply want occurrence now, but should beryllium observant what they wish for pinch calls for change.
They added: "Spurs haven't sewage nan look connected nan transportation conscionable yet but it will come."