Peter V'landys says London Broncos' inclusion is the principal obstacle in negotiations over the proposed NRL-led Super League takeover.
Super League clubs face a Thursday, October 15, deadline to agree to the proposal.
Leigh Leopards owner Derek Beaumont opposes making London's place a condition, saying the approach disregards promotion criteria and could expose the competition to legal consequences.
V'landys says he remains hopeful an agreement can be reached.
"We're in the final legs of negotiation," he said.
He sees London as a commercial opportunity, pointing to Australians living there and the Brisbane Broncos' name recognition.
"We want the Broncos in because there's 750,000 Australians at any one time in London - a ready-made audience - and they know the Brisbane Broncos.
V'landys says the competition's business models depend on London's participation and that excluding the club brings greater risk.
Beaumont criticised the deadline on X, describing it as pressure on clubs unable to commit to the condition.
"Giving a deadline on something you want that the other side cannot commit to is a gun to the head approach akin to a ransom," Beaumont posted on X.