Boss Harry Redknapp has denied rumours he has resigned but the newspapers are latching onto the fact that he is the last year of his contract and while Levy believes in a Director of Football to deal with player movement, Redknapp is old school in that the manager runs the football side of a club.
Redknapp, 65, has a year left on his contract and warned last week that ongoing uncertainty about his future would affect
"This is an outrage an absolute liberty for people to be putting around this kind of rumour on the internet."
"It is not true, there is not a chance I will resign. Why should I? I have a year left on my contract."
Spurs finished fourth last season but were denied a place in the Champions League when Chelsea won the competition.
Rumour is rife until negotiations over an extended contract for Redknapp were stalled since the start of the year when he was linked with the then vacant England manager's job.
"The simple situation is, I've got a year left on my contract. It's up to Tottenham whether they want to extend that contract or not.
"If they don't extend it and I go into my last year, it's not an easy one when players know you've only got a year left.
"It's not a case of me looking for security. What it's about is players knowing you've only got one year left on your contract and knowing that it doesn't work, basically.
"I think it's a situation of, 'well, he might not be here next year'. You don't let players run into the last year of their contract if you think they're any good, and you don't let managers run into the last year of their contract if you think they're any good.
"It's up to Tottenham. If they think I'm OK and I've done a decent job and deserve an extension, they'll give it to me." said Redknapp.