This chapter observes and analyzes hegemonic narratives in and of the academic field. In particular, our focus is on normative and evaluative accounts relating to forms of university governance. We suggest centering on two overarching approaches to what is seen as legitimate in terms of governing the university. First, we trace the age-old Humboldtian perspective, representing especially professorial independence and self-governance. Second, we consider the newer managerial perspective, separating top-down university management decision-making separate from (or counter to) faculty influence. We find that, as the latter form is currently taking hold within European universities, scholarly remembrance of the former Humboldtian governance tradition has morphed into a nearly uncritical, hegemonic tale of a glorified past. In contrast, we suggest, the managerial perspective represents a powerful ante-narrative, a hegemonic story in-the-making. The morally laden, and somewhat fantastical, Humboldtian tale, being itself hegemonic, is unfit to serve as a critical counternarrative vis-à-vis the managerial approach that has attained considerable authority. Thus, we argue that contemporary governance discourse is suspended between two poles: the Humboldtian perspective, favoring professorial power and authority relations, and the managerial perspective, subordinating faculty under market considerations and continuous evaluation. The dilemma arising from this "suspension" also renders the governance discourse into regions of impracticality and elitism. We argue that a counter-narrative fit to challenge the managerialist governance structures in practice is lacking, with elitism continuously