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Tottenham On Verge of Receiving £8.5m in Mayor's Assistance

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ZURICH SWITZERLAND - DECEMBER 02: England Manager Fabio Capello arrives with London Mayor Boris Johnson before the FIFA World Cup 2018 & 2022 Host Announcement on December 2 2010 in Zurich Switzerland.  (Photo by Michael Regan/Getty Images)
ZURICH SWITZERLAND - DECEMBER 02: England Manager Fabio Capello arrives with London Mayor Boris Johnson before the FIFA World Cup 2018 & 2022 Host Announcement on December 2 2010 in Zurich Switzerland. (Photo by Michael Regan/Getty Images)
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According to reports from The Guardian, London Mayor Boris Johnson is on the verge of offering Tottenham Hotspur £8.5 million in assistance to remain in north London home and help the area rebuild and regenerate after the riots. A spokesman for the mayor said:

"We have had constructive negotiations with Tottenham Hotspur and Haringey council. We are hopeful a deal can be reached on building a new stadium on the current site so the mayor can accomplish his long-term ambition to regenerate a much wider area in this neglected and impoverished part of London."

However, these reports come on the back of news announced by Tottenham Hotspur itself that it has been granted judicial review proceedings over the decision to allot the Olympic Stadium to West Ham FC. Tottenham has argued the East London council fell foul of EU state aid rules in loaning £40m to the Hammers to complete conversion work on the Olympic Stadium.

These two pieces of news breaking in the same day have created much confusion over the future of Tottenham Hotspur. The supporters have long supported staying in North London, and receiving these funds from the Mayor would do well to push Tottenham towards staying in the N17. Recent riots in Tottenham seem to have only pushed forward the belief that Spurs is essential part of the positive culture coming from this devastated neighborhood.

However, the potential financial gains for the club by moving to the Olympic Stadium seem unmatched by any potential move to stay in Tottenham. As the club pushes to be one of England's biggest clubs, the potential ticket revenue and non-building expenses would undoubtedly be appealing for the club.

It remains to be seen if the public funds help keep Tottenham in North London, or if developments in the Olympic Stadium case further their departure.