Crystal Palace and Spurs are in negotiations over compensation for John Bostock, who wants to leave the Eagles to join the Premier League side.
If the two sides cannot agree a figure for the 16-year-old then compensation will be decided by a tribunal.
Eagles chairman Simon Jordan told BBC London: "The situation is that John Bostock's contract expires on 31 May.
"He cannot become another club's property until an agreement has been made with Crystal Palace."
"I am definitely ready to make this move and Spurs is the team I wanted to join"
Sporting director Damien Comolli told his club's website: "We know he has the talent but we also know he is only 16 and so we will not rush him.
"He will have time to develop and will be working within a very talented development squad. We are very pleased that John has decided to join us."
Bostock has been quoted as saying he has a "great future" in north London.
"I am definitely ready to make this move and Spurs is the team I wanted to join," he said.
"I feel this is a club with a great future and this is where I want to be to develop my potential and improve as a player."
The Palace academy product is regarded as one of the most exciting young prospects in English football.
Chelsea, Manchester United and Spanish club Barcelona have been linked with the England Under-17 international.
606: DEBATE
He became the youngest player to appear for the Eagles when he made is first team debut as a second-half substitute against Watford in October 2007.
Bostock turned 16 in January and so is free to negotiate a professional contract, but the two London clubs have yet to agree a fee for the £5m-rated playmaker.
Meanwhile, Tottenham's skills coach Ricardo Moniz has left the club after three seasons at White Hart Lane.
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