Volkswacht Bodensee - Levy makes shock decision to quit as Spurs chairman

Levy was the driving force behind Tottenham's £1.2 billion ($1.6 billion) stadium and state of the art training centre.

But the 63-year-old was a polarising figure among Tottenham fans, with numerous protests against him during difficult spell for the Premier League team.

Levy, who was the longest-serving chairman in the Premier League, had come under fire more than ever over the last few seasons.

A series of failed managerial appointments and the club's transfer policy infuriated supporters and turned up the heat on Levy, who was accused of caring more about the club's financial profits than success on the pitch.

Tottenham endured their worst top-flight finish since 1976-77 last season, coming 17th before salvaging the campaign by winning the Europa League to qualify for the Champions League.

That success -- which ended Tottenham's 17-year trophy drought -- was not enough to spare boss Ange Postecoglou from Levy's wrath as the Australian was sacked after two turbulent seasons in charge.

Levy hired Thomas Frank from Brentford to replace Postecoglou in the last significant decision of his reign.

"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," Levy said in a statement.

"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."

Vinai Venkatesham was hired as Tottenham's chief executive officer in April, while Peter Charrington has joined the board and will step into the newly created role of Non-Executive Chairman.

"I am very honoured to become Non-Executive Chairman of this extraordinary Club and, on behalf of the Board, I would like to thank Daniel and his family for their commitment and loyalty to the Club over so many years," Charrington said.

"This is a new era of leadership for the club, on and off the pitch. I do recognise there has been a lot of change in recent months as we put in place new foundations for the future.

"We are now fully focused on stability and empowering our talented people across the Club, led by Vinai and his executive team."

There will be no changes to the ownership or shareholder structure of the club following Levy's departure.

B.Baumann--VB