What Daniel Levy bombshell announcement means for Tottenham takeover explained

Daniel Levy has stepped down from his role as Executive Chairman at Tottenham Hotspurfollowing just under 25 years at the club.

The bombshell announcement came on Thursday evening just before 6pm with Levy thanking the football club and fans for their support. A club statement read: "Tottenham Hotspur has been transformed over the last quarter of a century.

"It has played in European competitions in the last 18 of 20 seasons, becoming one of the world’s most recognised football clubs, consistently investing in its academy, players and facilities, including a new, world-class stadium and state of the art training centre.

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"The club has also competed regularly at the highest level, enjoying a number of fantastic on-field successes, including the recent Europa League cup win.

"As part of its succession planning, the club has made a number of senior appointments in recent months. Vinai Venkatesham was hired as Chief Executive Officer (CEO), with Thomas Frank as our new men’s head coach and Martin Ho as women’s head coach. Peter Charrington joined the board and will step into the newly created role of Non-Executive Chairman.

"This is all part of the Club’s ambition to ensure that it is set up to deliver long-term sporting success."

Levy added in the statement: “I am incredibly proud of the work I have done together with the executive team and all our employees. 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.”

At the bottom of the club's statement, the club confirmed that there were 'no changes to the ownership or shareholder structure of the Club' amid Levy's departure.

Speculation has constantly linked the club with a takeover. Last year, former Newcastle United owner Amanda Staveley was reportedly considering investing into the football club.

Levy had previously revealed that Spurs were seeking fresh investment with MSP Sports Capital said to be in talks to acquire a 40 percent stake in the club. Qatari interest has also been reported with Paris Saint Germain owner Nasser Al-Khalaifi a name constantly linked.