Yeah probably. Levy doesn't give a fuck about what his players want, even if it means keeping them there against their will for seasons. As long as he can get as much money out of the buyers as possible and then not spend it on anybody that'll make them genuine title contenders.
He's done it again. Apparently, like with Modric, he told Bale if a bid from a bigger club comes in he'll allow the player to talk to the club. He's refused to do it again. Good players, when signing a new contract with Tottenham, should know Levy is that kinda dishonest person and actually place it in the contract as a proper clause. Levy doesn't do "gentleman's agreements", he just lies to the players so they sign a new contract and then wrings money out of buyers. Smart move, but he's a tosser in my books.