Interesting to hear the athletic podcast pick up the point that the Enic investment could be way to dilute Levys control of Spurs (made the point on here some time ago when DL was sacked, but no one understood or saw it, maybe a journalists did).
If DLs shares in Enic were dilluted to be less than 25% it means JL family have complete control and can do things like change the company articles of association, approve mergers or aquisitions etc without Levy onside. Enic isn't UK based, and it is all hidden in the Behamas, so no one external knows for sure. But this would make sense.
Something like this may have occured speculated the athletic: DL looked to excutute a managment buy out of Spurs (presumably using external funding). This could have given Levy control but JL familiy would have had to accept the offer for their shares. So there wouldn't have been anything untoward here.
However, Joe Lewis family might have reacted to this, and it may have highlighted their deep connection to the club. Via their father, and probably grandfather. In response they hatched a plan to take back contol themselves. They did the ground work, bringing in Carrington, and asking for Vinis role, then once the transfer window was shut, excecuted their plan sacking DL and investing 100m to leave DL peripheral. Leaving plenty of time for Vini to rejig the new setup for signing and selling players which was announced today.
DL is free to sell his shares to anyone who's able to offer what he wants. Enic probably have a first refusal in the articles of association. But we don't know this for sure. However, his shares are worth most (even now possibly diluted) when sold as one to a new entity who might buy out Spurs. As minority shareholdings are almost always discounted. The multipliers used are less for minority shareholders normally, recognising they don't come with any control. And it seems likely Levys control has been taken away not just in running the club day to day, but also his ability to block special resolutions via his shareholding.