Tottenham Head Coach has admitted that nothing is finalised yet ahead of the January transfer window
The outfit are managed by former teammate of Defoe's Ryan Nelsen, who is reportedly keen to recruit the forward on a bumper deal as one of his designated players.
There has also been interest from the Premier League with former club West Ham reported to be interested.
But there have been few comments from any of the parties rumoured to be involved.
"I'm not sure if anything is finalised with Jermain," said the former Blackburn man.
"If he is going to be with us for the long-term or the short-term, we just want to get him back on the pitch.
"Everyone likes your best players, but Jermain has to do what's best for him and Tottenham need to do what's best for them.
"If you're asking me, I want all the best players to stay all of the time."
Such comments certainly indicate that there is discussion on either Defoe remaining at the club, or discussion with other clubs about a transfer.
Given that the striker has barely featured for Spurs under Sherwood, it seems inevitable that he would be unhappy and possibly seeking a transfer.
Daniel Levy and the Spurs board may be willing to transfer him now while they could still bring in some money for a player they signed for around £15 million from Portsmouth in 2009.
And if he's injured, it is very possible Spurs fans have seen the last of the player who's scored 142 goals for the club.
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