Tottenham Hotspur have reached an agreement with Archway Sheet Metal Works which will allow a new stadium to be built.

Archway's premises are directly opposite the North Stand at White Hart Lane and they have been in a lengthy court battle with Tottenham after refusing to relocate.

"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," said a statement on the club's official website.

"In order to allow Archway to relocate its business appropriately, the club will not take possession of the land until later this year."

Tottenham plan to construct a new 56,000-seater stadium on the White Hart Lane site in time for the 2017-18 season.