Tottenham chairman Daniel Levy says that there will not be "a summer of major upheaval" at White Hart Lane despite being disappointed at their Premier League position.

Spurs spent over £100 million on new players last summer as they put the profits from Gareth Bale's sale to work but have fallen below expectations and set eight points adrift of the top four, with Tim Sherwood struggling after replacing Andre Villas-Boas as manager.

Though Louis van Gaal has been linked with taking over at Tottenham at the end of the season, Levy does not expect sweeping changes for the club - who announced profits of £1.5m in their financial results on Wednesday - and is hopeful that work on a new stadium could be completed by 2017.

"At the time of this announcement, we are in sixth position in the Premier League and it has been another season when the top four places have been fiercely contested by at least seven teams," he said in a statement.

"We have come far in the last decade - we have raised our expectations from a club aiming to be in the top half of the table to competing in Europe each season - to the point at which we find ourselves disappointed if we don't make Champions League.

"This season we have had to make significant changes, both in respect of coaching and playing staff, and yet we are currently only two points less than last season's tally.

"Whilst this season's performances and results have not lived up to expectation, we believe our squad has potential and it is important that we all now show commitment and teamwork to get the best possible finish to the season.

"Our focus therefore is to continue to invest in and develop the squad - we shall not look to a summer of major upheaval but rather to strengthen in key positions, to play the style of football for which we are famous - and to deliver the new stadium."

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