Bob Stubbs, chief executive of client Wembley National Stadium, had previously said he would precipitate an inquiry if the council failed to make a decision on the planning application by 19 March.
However, after taking legal advice, Stubbs now says it would not be in the firm’s best interests to do this.
He said: “Although we are entitled to take this action, we have been advised by Sir Michael Fitzgerald, the QC we asked to represent us at the inquiry, that it would not be in our long-term interests.”
Stubbs insisted that he had not ruled out turning to a public inquiry if the council rejected Wembley’s application, which is due to be decided next month.
A spokesperson for Brent council said: “We are continuing to negotiate with Wembley and are confident we can resolve all the outstanding issues surrounding the development in time for the planning committee in April.”
Stubbs added that he had held talks with joint-venture contractor Multiplex/Bovis Lend Lease this week with a view to finalising the £300m construction contract. Stubbs said: “Contractual negotiations are going fine. It’s not easy agreeing a contract of this size, but Multiplex/Bovis Lend Lease are getting to grips with the details of the scheme. They are calculating their bill for constructing the stadium and checking that against our QS’ figures.”