Exclusive: Tottenham appoint ex-Arsenal CEO Vinai Venkatesham as chief executive in shock move | OneFootball

Venkatesham to fill newly-created role at Spurs after leaving north London rivals last summer and being courted by Newcastle

The Standard first revealed on Friday that Vinai Venkatesham, who was Arsenal’s chief executive for four years until leaving last summer, will fill the newly-created role at Spurs in a move that signals major changes in the way the club is run.

The hiring of Mr Venkatesham, who will join in the summer, is seen as a major coup for Spurs as he had also been courted by Newcastle.

In a statement released by Spurs after The Standard broke the news, Mr Levy said: “The club has experienced significant growth in recent years, making it crucial to expand our executive management.

“I have known Vinai for many years, having worked together in the Premier League and the ECA [European Club Association]. I am personally delighted that he has agreed to join our board as we build for success.”

Tensions between Tottenham fans and the club’s majority owner English National Investment Company (ENIC) came to a head last weekend with a protest march before the Southampton game.

Read more: What Venkatesham will bring to Tottenham after key role in Arsenal rebuild

Some fans called on Mr Levy to “get out of the club” during the protest, organised by the Change for Tottenham group. Chants of “Levy out” have been heard at games.

Some scarves bore the message: “Enough is enough, ENIC Out!” A message on a flag read: "Built a business, killed a football club”.

However, the mood inside the stadium was better on Thursday night during the Europa League quarter-final first-leg tie against Eintracht Frankfurt, which ended 1-1.

The Europa League is Spurs’ last chance of silverware this season and the only way of securing access to next season’s Champions League.

ENIC took control of the club in 2001 and holds around 85 per cent of Tottenham shares. Mr Levy owns a 29 per cent stake in ENIC, with more than 70 per cent held by the family trust of British businessman Joe Lewis.

Mr Levy is actively seeking fresh investment in Spurs, saying a year ago in April 2024 that the club "requires a significant increase in its equity base" to fulfil its long-term potential and is "in discussions" with potential partners.

Mr Venkatesham quit Arsenal last summer in a move announced a year earlier, ending a 14-year association with Spurs’ fiercest rivals.

At the time, he said it was “time to pursue another challenge”. Arsenal co-chair Josh Kroenke said at the time: “Vinai will always be part of the Arsenal family and always welcome back at Emirates Stadium.”

The appointment of Peter Charrington, a director of ENIC and former chief executive of Citi Private Bank, onto the Spurs board last month is also said to have been significant in potentially changing the power balance within the club.

Players or managers switching allegiance between Arsenal and Tottenham, or vice versa, has long been controversial, with George Graham and Sol Campbell being two examples.

However, the hiring of executives that have previously worked at other clubs appears to be part of modern-day football.

In January last year, Manchester United appointed Omar Berrada from rivals Man City as their new chief executive.

The Tottenham accounts, for 2023/24, showed that Spurs’ revenue fell four per cent year on year, primarily due to the loss of European football after playing in the Champions League the previous season.

Separate figures from Deloitte found that Spurs were the seventh-highest spending club in the Premier League for the amount spent on wages.

Read more: Venkatesham appointment raises questions over balance of Spurs boardroom power

Deloitte said Spurs were the ninth richest club in the world in terms of revenue but spent only 42 per cent of the income on wages, the lowest percentage of the 20 richest clubs.

Mr Levy, in a statement accompanying the latest Spurs accounts, said the club had invested more than £700m net on new players since the Tottenham Hotspur Stadium opened in 2019.

During Mr Venkatesham’s time as Arsenal chief executive, annual revenue grew from £340m to a record £615m.

He was in charge of all commercial, operational and sporting matters, including the development of the women’s team, which has gone on to sell out the 60,000-capacity Emirates.

The Oxford-educated executive is a qualified management accountant. He is the chair of the Wembley Stadium advisory board and also worked on the London 2012 Olympics.