In a decision that has shocked the football world, Daniel Levy has announced that he will step down as Tottenham chairman after nearly a quarter of a century at the helm of the London club.
"I am incredibly proud of the work I have done alongside the executive team and all our employees. We have turned Tottenham into a global club that competes at the highest level. More than that, we have built a community. I have been fortunate to work with some of the greatest people in the sport, from the team at Lilywhite House and Hotspur Way to all the players and managers over the years," Levy said in a statement.
The 62-year-old was the Chairman who oversaw the transformation of the north London club into a regular Champions League team and handed over the club's £1 billion stadium.
The club has already confirmed that there will be no changes to ownership or shareholder structure, with ENIC Group, owned by British businessman Joe Lewis, retaining its shares.
Meanwhile, Vinai Venkatesham will lead Spurs as CEO, with Thomas Frank in charge of the men's team.
Levy's departure marks the end of the longest reign of any Premier League chairman, with the Israeli first taking up the role in 2001.
During that time, Tottenham has moved from mid-table obscurity to one of English football's elite clubs, qualifying for Europe in 18 of the last 20 seasons and reaching the Champions League final in 2019.
He oversaw the redevelopment of White Hart Lane and the construction of the state-of-the-art Tottenham Hotspur Stadium, which opened in 2019 and has become a hub for both football and major events.
Alongside this, Spurs invested heavily in a training centre at Hotspur Way and improved their academy.