Player-manager John Gorman's team beat old foes Arsenal to reach the final but, despite leading twice at 2-0 and 3-2, were eventually toppled 4-3 by the Suffolk outfit.
Seen as one of the best Masters events ever, it was goals galore in Docklands with five goals at least in our four games.
The night didn't exactly start brightly as we went a goal down inside 40 seconds in our opener against Ipswich and 4-1 down before Clive Wilson made it a more respectable 4-2.
We hit back against Millwall in our second game, this time blasting out of the blocks ourselves with a double from David Kerslake and Gary Brooke putting us 3-0 up inside five minutes. It ended 4-1.
The eagerly-awaited final group game against Arsenal had even more significance as we needed a draw at least to go through to the final.
We led early through Ali Dick but a quickfire Brian Talbot double had us on the back foot until Glenn Hoddle and Micky Hazard clinched the big one 3-2 in our favour.
The final was a thriller. We led 2-0 after two minutes via Dick and Hoddle, Glenn then hit the bar at 2-1 and Ipswich levelled within seconds. Kerslake put our noses in front again only for Trevor Putney and tournament top-scorer Simon Milton to grab victory for the Portman Road side.
Ipswich now go through to the final in Manchester in September.
Spurs results: Group matches: Spurs 2 (Hazard 7.20, Wilson 12.30) Ipswich 4 (Milton 40 secs, Atkins 3.30, Dozzell 10.20, Guenchev 11.40); Spurs 4 (Kerslake 40 secs, 2.20, Brooke 4.20, Gibson 12.15) Millwall 1 (Massey 13.40); Spurs 3 (Dick 2.20, Hoddle 9.30, Micky Hazard 13.30) Arsenal 2 (Talbot 3.45, 4.50).
Final: Spurs 3 (Dick 1.15, Hoddle 2.30, Kerslake 10.00) Ipswich 4 (Brennan 3.00, Dozzell 4.00, Putney 10.40, Milton 13.30).
Our Masters hopes were dashed by Ipswich Town at London Arena on Saturday night.