Daniel Levy's £27m Tottenham exit package explained

Tottenham paid Daniel Levy £27million on his departure from the club last September, according to The Athletic, with the figure covering salary, bonuses and a long-term incentive plan built up over his 24 years in the role.

The payout ranks among the largest handed to a football executive. Levy still holds roughly 24% of the club, though his stake has been diluted twice this year: he did not take up an offer to join a £100million equity investment before the August deadline, and Eight Sports Capital, understood to be backed by the Taiwanese businessman Richard Tsai, is now expected to buy 24.99% of the ENIC shares Levy holds.

Non-executive chairman Peter Charrington addressed the departure in an open letter to supporters at the end of last season. "Last September, we recognised that something seismic had to change at Spurs," he wrote. "The Lewis family stepped in and authorised a full reset. That decision was not taken lightly, and it came later than it should have."

The Lewis family have put £320million into the club over the past year, including a £120million working-capital injection, and backed Ange Postecoglou with new signings over the summer at a combined cost of close to £200million. Van de Ven and Solanke have each found the net once, but the attack lacks rhythm. None of it has yet shown up in the table.

That drop-off follows a goalless run already flagged after the 0-0 draw with Everton. Levy's own position has kept eroding alongside it, and further dilution of his remaining stake looks likely the longer a sale takes to complete.