Tottenham ownership in question as American, Middle Eastern interest faces Daniel Levy hurdle | OneFootball

Tottenham Hotspur supporters have long voiced their frustrations with chairman Daniel Levy, and recent events have only added fuel to the fire.

Despite boasting a world-class stadium and strong financial standing, Spurs find themselves at a crossroads.

With inconsistent performances on the pitch and a transfer strategy that often leaves fans disappointed, speculation over a potential takeover is once again making headlines.

Reports of investment interest have surfaced in the past, but could now be the moment Daniel Levy finally considers letting go?

Tottenham’s ambitions have seemingly stagnated, their biggest rivals continue to grow.

The gap between Spurs and the Premier League’s elite has widened, leaving supporters questioning whether their club’s priorities truly align with on-field success.

Tottenham face ownership dilemma

Tottenham Hotspur v IF Elfsborg - UEFA Europa League 2024/25 League Phase MD8 | Catherine Ivill - AMA/GettyImages

According to Football London, talk of ENIC and  being open to offers has circulated for years, but so far, no major deals have materialised.

A reported £3.1 billion bid from MSP Sports Capital led nowhere, while interest from Middle Eastern investors has also failed to progress beyond speculation.

Daniel Levy has repeatedly insisted that the club is not for sale, reaffirming this stance as recently as 2023.

However, with Tottenham struggling to secure Champions League football and facing mounting criticism, there is growing belief that this position may be softening.

The tipping point appears to be the club’s transfer activity—or lack thereof. Despite glaring squad weaknesses, Spurs made no major signings in the January window, relying instead on loan deals and minor additions.

Even a last-minute £70 million bid for Marc Guehi seemed more like a smokescreen than a genuine attempt to strengthen the team.

With rival clubs investing heavily and reaping the rewards, Spurs risk falling further behind.

Arsenal, for example, took financial risks that have paid off, securing Champions League football and significantly increasing their revenue streams. Tottenham, meanwhile, remain in limbo.

A financially stable but unambitious model

Tottenham are in a strong position, their wages-to-revenue ratio of 42% is the lowest in the Premier League, and their £529 million revenue for 2023/24 keeps them competitive off the pitch.

However, this cautious approach has left many fans feeling that Spurs are now 'a stadium with a football club attached.'

The key question is: what comes next? If Daniel Levy and ENIC invest heavily in the summer, it would signal a renewed commitment to success.

But if the club continues with small, calculated moves, it could be a clear sign that Tottenham are being prepped for a sale.