Tottenham Hotspur has been given three weeks to accept a £17 million package to stay in north London and drop a legal challenge over the future of the 2012 Olympic Stadium, reports Sport Business. The office of the Mayor of London, who is keen for the club to build a new £400 million stadium in Northumberland Park close to Tottenham's historic White Hart Lane home, confirmed the deadline for a final decision to Reuters.
The deadline coincides with an October 18 hearing into the decision to award preferred bidder status on the Olympic Stadium to rival club West Ham United.
Tottenham sought a judicial review of the Olympic Park Legacy Company's decision to back West Ham's bid against its own, claiming that a £40 million loan from Newham Council gave West Ham an unfair economic advantage.
However, if Tottenham accepts the offer on the table from the Mayor's office, it would give London's bid to host the 2017 International Association of Athletics Federations (IAAF) World Championships a major boost, as West Ham has pledged to retain a running track at the venue.
"We have been working to help deliver the Northumberland Park Project for many months and all avenues have now been explored," a spokesperson for Boris Johnson said, according to Reuters.
"It is vital that we get clarity from Tottenham Hotspur as soon as possible."
London is up against the Qatari capital of Doha for the right to stage the 2017 IAAF World Championships.
Click here to reach the No1 destination for hard news and exciting gossip on Tottenham