Thomas Frank refuses to put timeline on Tottenham's Premier League title quest
Spurs claimed Europa League success in May to end a 17-year wait for silverware, but Levy ruthlessly dismissed Ange Postecoglou after a difficult domestic campaign where the club finished one place above the relegation zone.
Despite Tottenham's Premier League struggles after an injury-ravaged season, Levy made the bold claim last month that they 'need' to win the title.
Frank said: 'I share his ambitions for the club. A club of this size should have that ambition.
'How far away we are is probably very difficult to say, but we should throw it forward and go for it.
'No doubt that needs to be the aim for the future. What are to odds for us winning the PL this season?
'I'm not allowed to gamble either, so I think we're probably not the favourites. Probably three teams at least ahead of us but we will do what we can to build a strong and competitive team.'
During a busy first press conference as Spurs boss, Frank regularly stated his desire to improve the robustness of the squad to ensure they can handle four competitions.
There were also plenty of questions about the future of key duo Son Heung-min and Cristian Romero.
Son achieved his own goal of winning silverware at Tottenham in May and there has been a suggestion if he wanted to leave the club would not stand in his way.
But Frank, who refused to confirm if Son would remain captain, insisted: 'It's always tricky situations like that.
'If a player has been at a club a long time, then there will always be a decision for the club to take of course.
'And of course, the head coach and the guys who are in charge and this case will be with Daniel and Johan (Lange), because there is something in it if someone wants to leave at a certain stage, then there can be something there, but the club will always decide in the end.'
Postecoglou's first summer at Spurs was overshadowed by Bayern Munich's protracted pursuit of Harry Kane, which eventually ended a day before the start of the season.
Frank would not want a repeat, but added: 'First and foremost, he's (Son) here now. I'm not worried too much about it.'
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