David took on his role as acting manager following Glenn Hoddle's departure in September, assisted by first team coach Chris.
Speaking now at our AGM, Daniel stressed that this decision will give the club the continuity it needs until we make our managerial appointment.
Here is the Chairman's address to the AGM in full:
Before we start on the official proceedings of today’s meeting, I would like to address a number of current issues and provide some clarity to shareholders and supporters alike.
Your board is absolutely united in its determination to achieve success on and off the pitch for Spurs. My role as Chairman is to provide to the best of my abilities the appropriate financial structures and management that enhance the likelihood of consistent success. As the major shareholder, I have every incentive both financially and emotionally to achieve this.
For this season we must do everything to try and achieve European qualification either as a result of our league position or cup success. It is vitally important that we, as fans, remain behind the team.
I am pleased to announce today that David Pleat and Chris Hughton will continue in their current positions until the end of the season. This will give the Club the degree of continuity it needs until we make our most important managerial appointment. We will make that appointment in the summer.
We are currently competitive in the league and in both cup competitions, we have everything to play for.
Let me briefly address the issue of the stadium.
Our development plans remain hampered by a lack of any assurance that improvements to the transport infrastructure servicing this area will be forthcoming. We have in place a draft development plan which over a number of years will transform the stadium and its immediate surroundings. However, any significant spend by the Club cannot proceed until we can secure some degree of commitment from the numerous authorities involved in the process — including the Mayor’s office, LDA and Transport for London. We will also keep an open mind on other possible opportunities.
We have concluded a financial year where the business has produced a record operating profit thus enabling us to be the second largest (net) spenders in the transfer window in the Summer. We have finished the year with a stable financial base, despite what were otherwise difficult commercial conditions. However, the deliberations of the European Commission with regard to the new agreement between the FA Premier League and UK broadcasters remains a concern to us.
I am pleased to say that we have enjoyed the continued support of our commercial partners. On that note, I am delighted to announce today that we have agreed new terms with our main shirt sponsor Thomson Holidays for an additional two years up to 30 June 2006 and in addition, we have also recently concluded a new 5-year agreement with MBNA, our affinity card partner, until 2008.
I should like to thank everyone at the Club for their commitment throughout the last year and most importantly, thank our fans, for their continued support.
Chairman Daniel Levy has announced this afternoon that David Pleat and Chris Hughton will continue in their current positions until the end of the season.