Tottenham announce plans to quit White Hart Lane for new stadium by 2017

Spurs are desperate to increase their match day income

An artist's impression of how a new stadium might look

Tottenham have announced they could leave White Hart Lane for a new stadium in three years.

In announcing their financial results, the club said their new stadium could open as early as the summer of 2017.

A statement from Tottenham read: "It is a major development that will present ongoing challenges and, subject to these challenges being manageable, we anticipate going out to tender for construction late this year which will make a stadium opening date of summer 2017 feasible."

That depends, though, on the outcome of the public inquiry which was held last April and which has delayed the acquisition of the remaining property needed for the land to build the stadium. The club are waiting for a decision from Eric Pickles, the secretary of state for communities and local government, on the compulsory purchase order.

Tottenham chairman Daniel Levy said: "We have fantastic, strong support. Our current 36,000-seater stadium sells out and the waiting list for season ticket holders is currently in excess of 47,000.

"We cannot stress strongly enough how critical the new stadium is over the long term to these raised expectations.

"We have the smallest capacity stadium of any club in the top 20 clubs in Europe, let alone the current top four Premier League clubs, and given we now operate within UEFA Financial Fair Play rules, an increased capacity stadium and associated revenues is fundamental to supporting the future ambitions and consistent achievement at the top of the game.

"Our focus therefore is to continue to invest in and develop the squad - we shall not look to a summer of major upheaval, but rather to strengthen in key positions - to play the style of football for which we are famous - and to deliver the new stadium."

Spurs announced a profit for the year ending 30 June 2013 after tax and interest of £1.5million, having made a £4.3million loss in 2012.