Date: Tuesday, 02 June, 2026
Location: Boardroom, Lilywhite House, London
Attendees: Peter Charrington (Non-Executive Chairman), Vinai Venkatesham (Chief Executive Officer), Matthew Collecott (Operations and Finance Director), Johan Lange (Sporting Director), Nick Beucher (Represents the Lewis family (ENIC ownership) in daily operations)
Mentioned but not present: Club owner Joe Lewis
Agenda: End of Season Review, Thomas Frank's future, Cristian Romero's situation
Peter Charrington looked around the room. Just over a year ago to the day, Tottenham were hosting a victory parade for winning the Europa League final. Fans were happy, the club had the Champions League on the horizon, and the trophy drought was over. Shortly after, Daniel Levy stepped away, the club sacked Ange Postecoglou, and brought in Thomas Frank. The man who was supposed to bring 'identity and stability' to the club.
Instead, the 2025/2026 season turned into another drama-filled, punchline at the club's expense. Exiting both domestic cups in the early rounds, watching rivals Arsenal win the league, and then being knocked out of the Champions League by Manchester City in the round of 16.
"Fifty-one points. Eleven clubs, including Brighton and Everton, are looking down at us. We are the most expensive mid-table experiment in the history of the sport. Nick, I assume the phone hasn't stopped ringing?" Charrington sighed, looking at the voice of the Lewis family.
"It’s stopped ringing because the Lewis family has moved past 'angry' and settled on 'disgusted.' We’ve lost the Europa League revenue, the Champions League is a fantasy, and the brand is becoming a punchline. Joe’s exact words were: 'Why am I subsidizing a hobby for 11th place?'"
"The financial reality is grim. We’ve crashed out of both cups early—minimal gate receipts. We are looking at a massive shortfall. The stadium is going to be empty on Tuesdays and Thursdays next season unless we can find events to fill it. Football will be a weekend event only." Collecott said.
"The underlying metrics—" Lange starts to speak,
"Johan, please. If I hear about 'Expected Goals' one more time, I’ll lose my mind. The only 'Expected' thing right now is a season ticket renewal crisis. Thomas Frank was hired to bring us 'tactical identity.' Instead, we have a squad that looks bored and a manager who looks out of his depth." Vinai snaps. "And the fans are not screaming and Daniel Levy anymore. He's gone! It is on us now. The Lewis family, in particular, and we know how they act when the heat is on them. Our jobs are on the line this summer."
"Vinai, we all know the stakes. That is why we are here. Do we keep Thomas, spin the 'injury crisis' narrative to the press, and pray for a regression to the mean? Or do we pay the buyout and start over? We’re turning into Chelsea, but without the silverware to justify the chaos."
Charrington stood and walked to the floor-to-ceiling glass, looking down at the High Road. A few fans were gathered near the shop, looking as miserable as the balance sheet. He listened to the bickering behind him—sack him now versus the cost of the severance—before turning back.
"We can’t fire Thomas today; Matthew doesn't need that headache until the new fiscal quarter begins. But we need to get the fans' voice. Vinai, get on to Alasdair Gold at Football London."
"What’s the line?"
"Tell him the board is 'stunned' by the lack of progress. Use the word 'unacceptable.' Say Thomas’s future is under 'urgent and rigorous review.' Tell Stacy in Socials to monitor the reactions. I want to see if the fans want his head or if they're still buying the 'stability' lie. We need to earn some grace back before we ask them to pay for next year's memberships."
"That handles one topic for today, but what about our captain? Joe is very upset with Romero and his comments this season. He humiliated the club on two different occasions on his social media." Beucher cuts in. "Joe wants him gone this summer."
"He’s the best defender we've had in a decade. He’s frustrated because he thinks the January window lacked ambition. He has Madrid and the Middle East whispering in his ear. He’s essentially saying the board's ambition doesn't match his own." Lange steps up, defending the club captain.
"His ambition? He’s the captain of the 11th-placed team! His 'ambition' should be defending a set piece, not typing manifestos on Instagram. He’s publicly undermined Peter, he’s undermined the recruitment team, and he’s made himself bigger than the badge. He’s an asset we need to liquidate before his value craters along with his discipline." Beucher snaps back.
"If we move him now, we recoup £60m. That covers Frank’s severance package and the sign-on for the next man. It’s a clean mathematical swap." Collecott pipes in.
"Vinai, give Alasdair the 'insider' scoop on Romero. Frame it as the club being tired of his 'toxic influence' and 'unprofessional digital conduct.' Let it be known that for the right price, the 'Captain' is available. We need to turn the fans against him before we sell him; otherwise, we’re the villains for losing our best defender." Charrington says, giving his final decision.
Vinai nodding "I'll make sure the 'leak' suggests the club is looking for 'leaders, not influencers' and that players need a better leader on and off the pitch."
"Good. Let the chaos settle for the rest of the week. On Monday, we will meet again to make our decision."
