Levy now appears to have ruled out any chance of the Bulgarian leaving after a meeting with coach Juande Ramos and sporting director Damien Comolli.
In a statement on Spurs' official website, he said: "Juande, Damien and I have reviewed the squad and Juande feels that we are not looking at any major changes.
"We are all clear that the January window is the worst time to buy quality players so we shall not be doing any business that is not essential.
"Once again for the record, we are not a selling club, rather we are building for the future. When we have players on long contracts we have no need to entertain offers."