Tottenham chairman Daniel Levy has questioned football's future on the Stock Exchange.

Spurs moved to delist from the AIM Stock Exchange in order to try to raise funds for a new stadium, a step that has worried some shareholders who are concerned about a lack of transparency in the future but Levy sees little sense in remaining a plc.

"Clubs in the current climate should not be public companies," said Levy. "Institutions are not interested in investing in this sector. When we have done recent fundraisings, there was no institutional support.

"It is because the business model of any football club is so dependent on what happens on the pitch and that is something the management can't have a direct impact on, so it's not a model the institutions support."