Under the guidance of manager Ange Postecoglou, Spurs have achieved their first continental trophy since 1984, but their domestic campaign has been a disaster, with the team finishing 17th in the Premier League.
Postecoglou's tactics have been inconsistent, and the team has struggled to adapt to pressing sides, conceding 65 goals and going winless in eight of their last 10 league matches.
The team's poor form has been attributed to injuries, particularly in defence, but Postecoglou will have been aware of Levy's tendencies before joining the club.
Levy now faces a tough decision: whether to reward Postecoglou with another season or to make a change.
While Postecoglou deserves credit for his Europa League win, another season under his leadership may be too risky, given the team's inconsistent form and lack of progress.
Spurs fans may want to be ruthless, not romantic, and Levy has the chance to learn from Manchester United's mistake of giving Erik ten Hag a year-long extension after their FA Cup win, only to see the team slide further down the table.
Levy must now back the next manager and make changes to the squad to ensure the team's progress, rather than relying on the momentum of the previous season.
This is a crucial moment for Levy and the club, and the decision he makes will have a significant impact on the team's future.