Tottenham chairman Daniel Levy has confirmed it is the Olympic Stadium or nothing in their bid to relocate.
Spurs are competing with West Ham for the right to take over the facility following the 2012 Games despite being granted planning permission for a new ground to be built next to their current home, White Hart Lane.
But Levy has now admitted the cost of building a new facility in Haringey, North London has forced the club to shelve those plans and direct their attention to the Olympic Stadium site in East London.
And he told Sky Sports News: “That is absolutely dead in the water.
“We have made it clear that the current stadium proposals at Tottenham are not viable so that is not something we are able to proceed with.
“At the moment we do not have an alternative.”
He added: “We are proposing one of the most advanced, state-of-the-art stadiums in Europe that will deliver an exceptional spectator experience.
“Fans will be closer to the pitch than at any other comparable size stadium in the UK, while its acoustic design will ensure that the noise from spectators remains within the stadium.”