No more cash from the public purse, says London Mayor Boris Johnson.

Tottenham Hotspur’s chairman has been told time is running out on a final offer of £17million from the Mayor of London and Haringey Council to help keep the club in N17.

Daniel Levy, Chairman of Tottenham Hotspur

Spurs has been urged to commit to a future in Tottenham, stop stalling on its £400million stadium project in Northumberland Park, and drop its legal battle for control of the Olympic Stadium.

If Mr Levy keeps dithering he risks losing the offer of cash, Mayor Boris Johnson warned this week, adding that the club will not get another penny from the “public purse”.

It is hoped the offer of taxpayers’ cash will convince Mr Levy to keep his club in Tottenham, making the new stadium scheme ‘affordable’.

Mr Johnson said: “Last month’s riots were a telling reminder of just how important it is for Spurs to press ahead with the development at Northumberland Park and to help kick-start a much wider regeneration project that would create jobs and give Tottenham the economic boost it deserves.

“The club knows there is no more money available from the public purse and I sincerely hope that they accept the offer.”

A City Hall spokeswoman said the club has around three weeks to accept the proposal.

The money would be spent on regeneration in Tottenham - and not on the stadium itself. But it effectively relieves Spurs of its costly legal obligations to improve the area around the stadium, if it pressed ahead with the scheme.

The joint package would see City Hall and Haringey Council provide £8.5million each. But City Hall’s deadline carries little real weight, as the cash is being offered as part of the Mayor’s £50million regeneration fund for town centres hit by the riots, and would be paid out in any event.

It will pump £5million into “vital infrastructure and public realm” works and £3.5million into transport upgrades.

Haringey Council has so far refused to say where it will draw its £8.5million from, or how much control it will have over what it is spent on.

Cllr Claire Kober, leader of Harinegy Council, said: “It is critically important that Spurs commit to Tottenham to help drive forward regeneration in this very deprived area. We believe this offer could help to bring the scheme forward. We remain willing to discuss matters with Spurs.”

Spurs chairman Daniel Levy, who met with the Mayor’s representatives and Haringey Council on Wednesday, said: “The overall scheme requires a complex package of financing of which the correct level and nature of public support is critical.

“It would be wholly irresponsible of us to announce we were proceeding with the scheme without the appropriate agreements and support firmly in place. Discussions are continuing with all the relevant stakeholders.”