Sherwood lost his job last Tuesday despite winning over half of his games in charge of Spurs, and lasted just six months having replaced Andre Villas-Boas back in December. It remains to be seen what is next for the former England international midfielder, but Spurs chairman Daniel Levy will now be focusing his attention on bringing in a replacement.
The bookmakers have been fervently monitoring the situation for the next Tottenham manager, so here is a look at who is moving in the market today.
As reported last night, former Chelsea manager Claudio Ranieri has now left his position as Monaco manager and was instantly made one of the favourites for the Tottenham job. Now, odds can be found as short as 19/2 on the Italian returning to London, ten years after he was sacked by Roman Abramovich at Stamford Bridge.
Another manager who has seen his odds cut is former Swansea boss Michael Laudrup. The Dane was doing a fine job at the Liberty Stadium in his first season, but things quickly turned sour in his second season. Now at 22/1, it would still be a huge shock to see the former Barcelona and Real Madrid midfielder in the Spurs dugout.
Following the same pattern as Tuesday night, former Manchester City boss Robert Mancini has drifted out once again. The Italian saw his odds slashed earlier in the week but it seems any speculation over Mancini returning to England had little substance, and bookmakers have now moved him back out to around 10's, 11's and even 20's.
Last night, Frank de Boer had seen significant movement in his odds, with some bookmakers even offering odds-on situations for the Ajax boss. Yet today, the market has seemingly corrected itself, as the Dutchman is now back out to around evens or even 7/4.
Over a week gone in Tottenham's managerial hunt and still no movement in the favourite. Southampton Mauricio Pochettino is the clear choice of the bookmakers to be named new Spurs boss, and whilst there are people telling the Argentine to stay put on the South Coast, it currently looks like a foregone conclusion that the former Espanyol manager will be moving to North London.