Tottenham have announced an agreement has been reached with Archway Sheet Metal Works which clears the path for their new stadium to be built.
The club have plans in place to construct a new 56,000-seater stadium on their White Hart Lane site but have faced a lengthy court battle with Archway – who refused to relocate to allow Tottenham to begin the process.
Earlier in the month the business decided not to appeal against a High Court ruling which forced them to find new premises and now Spurs have announced they have reached a private deal with Archway that will allow them to take over the land next year.
A short statement on the club's website read: "Tottenham Hotspur Football Club, Archway Sheet Metal Works Ltd and the Josif Family (Archway) are delighted to announce that a private agreement has been reached for the purchase of Archway's property on Paxton Road by the Club.
"In order to allow Archway to relocate its business appropriately, the Club will not take possession of the land until later this year."
Archway's property was heavily damaged by fire in November as their court battle rumbled on but now Tottenham can continue with their plans – which have been approved by Haringey Council for some time.
Despite the good news, Tottenham will still need to find a temporary home for the 2016/17 season as the work is carried out – with the likes of MK Dons' stadium:mk, the Olympic Stadium and Wembley all touted as potential locations.
200+ Channels With Sports & News
- Starting price: $33/mo. for fubo Latino Package
- Watch Premier League, World Cup, Euro 2024 & more
Many Sports & ESPN Originals
- Price: $9.99/mo. (or get ESPN+, Hulu & Disney+ for $13.99/mo.)
- Features Bundesliga, LaLiga, Championship, & more
175 Premier League Games & PL TV
- Starting price: $4.99/mo. for Peacock Premium
- Watch 175 exclusive EPL games per season