It's in Levy's plan to drag this out as long as possible. If he can drive up the price tag then that's good for him. It also means..."oh no we don't have time to spend any of the money on a replacement!"
Given how Spurs behaved on the whole super league thing, and the fact they probably have spiralling debts from a new stadium I suspect they are actually incredibly close to going under.
The impact of covid hit them at the worst possible moment when they were at maximum exposure of the costs of building the new stadium. The lack of crowds and matchday revenue will have hit them harder than anyone else in the premier league. I can see City will come back in with another late offer and but Levy will delay until the last minute, hoping for another last gasp bid, but mainly for the handy excuse to have the money keep them afloat, rather than invest it in players.
If the season progresses as normal Spurs will probably ride out the storm, but if we get any further crowd restrictions as Autumn progresses then Spurs may struggle and best case scenario will be a fire sale of players in January, but they may not even get that far.
I'm thinking of putting in a little wager that Spurs get relegated, not because of on pitch activity, but because of going into administration. Watch this Space!