Daniel Levy set to lose part of his Tottenham stake after missing deadline

Daniel Levy, the former chairman of Tottenham Hotspur, is expected to see his ownership share in the club get smaller. This is because he missed a deadline to join a major funding round. The Lewis family, who own most of Tottenham, put £100 million into the club this summer, and Levy had a chance to invest his own share — but he did not do it in time.

The Lewis family controls Tottenham through a company called ENIC, and their share of the club has now risen to about 88 percent. Earlier this year, Levy stepped down as executive chairman, giving the Lewis family a bigger role in running the club day to day. The £100 million investment helped strengthen the club's finances heading into a busy transfer window.

Levy was given 60 days to invest money at the same price as the Lewis family in order to keep his stake in ENIC at around 29 percent. Sources close to the Lewis family say he agreed to take part in the funding deal, but then missed Monday's deadline to actually pay his share. Because he did not invest in time, his ownership percentage will now be slightly reduced.

A source close to the Lewis family told the Press Association: 'Daniel committed to funding and failed to do so, despite the extended deadline.' The family added that it is focused on the football side of things, including investing in the team and supporting the management. They said they want to create a stable environment for the club going forward.

Earlier this summer, there were reports — which were never confirmed — that Levy had already sold his 24.99 percent stake in ENIC to an American tech businessman named Brooklyn Earick. Earick, who runs a sports investment company called Eight Sports Capital, claimed the sale had happened. However, a spokesperson for ENIC said the company was not aware of any such sale by Levy's family trust.

On a separate note, the Lewis family is also said to be part of a group trying to buy a London-based basketball team. This team would play in a new NBA Europe league that is being set up. It shows the family is looking to grow its sports business beyond just football.

Back at Tottenham, it has been a very busy summer on the pitch as well. The club has spent £237 million to improve the squad for manager Roberto De Zerbi. Star defenders Pedro Porro and Micky van de Ven have both signed new long-term contracts to stay at the club. The team is also still looking to add attacking players before the transfer window closes in about three weeks, while young forward Yang Min-Hyeok has gone on loan to Belgian club Westerloo for the season.