The winds of change are blowing through North London, and they carry a scent of uncertainty that has not been felt at Tottenham Hotspur for decades. Following the monumental exit of Daniel Levy, the club’s long-standing figurehead, the spotlight has shifted directly onto the billionaire Joe Lewis and his family.
While the boardroom has seen a complete reshuffle, the lack of aggressive movement in the transfer market has led former owner Alan Sugar to propose a provocative theory: is a total takeover finally on the horizon?
Lord Sugar recently took to social media to voice the frustrations that many fans are feeling. With the club languishing in 15th place in the Premier League, the pressure on manager Thomas Frank is mounting daily.
However, Sugar suggests the real issue lies higher up. He questioned why a man with the vast wealth of Joe Lewis isn’t “throwing money” into the squad to pull them out of their current slump. In the January window, Spurs spent roughly £48 million to bring in Conor Gallagher and the young full-back Souza.
While these are solid additions, Sugar argues that for a club in such a precarious position, it was hardly a show of billionaire strength. His conclusion is simple: Lewis might be tightening the purse strings because he already has a buyer in mind.
The current leadership structure is a new frontier for the club. After Lewis moved ownership to a family trust, the reins were picked up by his daughter Vivienne, his son Charles, and Vivienne’s husband, Nick Beucher. This trio now oversees a club that is struggling to find its identity on the pitch.
While the board insists they have a plan for sustained success, the results tell a different story. The fans have not been quiet about their dissatisfaction, often directing their anger at the perceived lack of ambition from the new guard.
Compounding the drama are persistent rumors regarding Daniel Levy’s remaining shares. Reports have surfaced that the former chairman is actively looking to sell his stake to a consortium led by Hong Kong businessman Ng Wing-fai.
While the Lewis family would still hold the majority of the power even if Levy sold his portion, such a move would signal the end of an era and potentially invite new, hungrier investors into the fold.
Despite the speculation, the official word from within the club is one of stability. The Lewis family has made it known that they currently have no intentions of walking away. They have already demonstrated this resolve by rejecting three significant approaches for the club in late 2025.
These bids came from heavy hitters, including the aforementioned Ng Wing-fai, Amanda Staveley’s PCP International Finance, and even an unexpected interest from Brooklyn Earick. By turning down these offers, the family is signaling that they believe in the long-term project they have set in motion.
To support this vision, a series of high-profile appointments were made toward the end of last year. The club welcomed back Fabio Paratici as co-sporting director to help guide recruitment, while Vinai Venkatesham took over as the new CEO.
Additionally, Dan Lewindon was brought in as performance director to modernize the team’s physical and medical approaches. On paper, this is a “dream team” of executives designed to bring Spurs back to the top of the table.
However, in the world of elite football, executive appointments mean very little if they aren’t backed by results and financial muscle. The contrast between the club’s deep pockets and their mid-table reality is what fuels the theories of people like Alan Sugar.
If the goal is truly “on-pitch success,” the gap between the 15th position and the Champions League spots needs to be closed with more than just structural changes; it needs a statement of intent.
Whether Joe Lewis is truly preparing for an exit or simply navigating a difficult transition remains to be seen. What is clear is that the “Levy era” is over, and the new leadership is being watched with a level of scrutiny they have never faced before.
For the supporters, the hope is that the club isn’t just being dressed up for a sale, but is actually being built to compete. Until the wins start coming, the ghost of a potential takeover will continue to haunt the halls of the Tottenham Hotspur Stadium.
