Daniel Levy's £27m Tottenham exit package explained after huge pay-off and exit

Tottenham Hotspur reportedly paid £27million to their former executive Daniel Levy following his exit from the club last year. Levy saw his 24-year tenure with Spurs come to an end in September last year.

It has been reported by The Athletic that the payout from Spurs to Levy factored in his salary, as well as any bonuses and the long-term incentive plan in place at the club. It is thought that the £27m given to Levy is one of the largest amounts given to a football executive.

Non-executive chairman Peter Charrington wrote an open letter to Tottenham fans at the end of last season following a major overhaul of the club’s hierarchy.

He wrote: "Last September, we recognised that something seismic had to change at Spurs.

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"The Lewis family stepped in and authorised a full reset. That decision was not taken lightly, and it came later than it should have."

Since taking the reins , the Lewis family have pumped a staggering £320million into the club over the past year, most recently injecting £120million in working capital as they continue to steadily grow their shareholding.

Levy still holds around 24% of Tottenham, though his stake was diluted earlier in the summer. He was offered the opportunity to participate in a £100million equity investment but did not respond before the August deadline, seeing his share drop from 26%.

Spurs manager Roberto De Zerbi has also been generously backed in the transfer market, with the club signing 10 new players over the summer for a combined outlay of nearly £400million.

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Sandro Tonali, Mateus Fernandes, Savio, Jan Paul van Hecke and Tosin Adarabioyo were amongst the high-profile arrivals at the club.

The substantial outlay on playing staff is aimed at steering clear of a repeat of last season's struggles, when the club spent the vast majority of the campaign battling to preserve their Premier League status. Spurs required a final day victory over Everton to secure their survival.

Yet heading into the first international break of the season, Tottenham find themselves at the bottom of the Premier League table. Of their five top-flight fixtures so far this term, Spurs have lost three and drawn two.

De Zerbi's side return to action on Saturday, October 10 when they make the trip to face Manchester United at Old Trafford.