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.
Whilst it has seemed like a foregone conclusion that Southampton boss Mauricio Pochettino would be taking the job, former Swansea manager Michael Laudrup has once again seen his odds cut today. The Dane left South Wales in February after a terrible run of results and was widely through of as a rank outsider, but there has been plenty of movement on him in the last few days - with one bookmaker even offering as small as 8/1 on him.
As it seems that Tottenham's managerial decision is drawing ever closer, most managers are beginning to drift out as the next boss becomes apparent. The likes of Frank de Boer, Carlo Ancelotti, Rafael Benitez and David Moyes have all been heavily backed throughout the process but have drifted out today, to the point where it would be a monumental shock if any of them landed the job.
The favourite ever since Sherwood was sacked has been Southampton's Pochettino, and with odds now at 1/10, it seems that the Argentine is almost certain to become the next Tottenham manager. He may have struggled towards the end of his spell with Espanyol, but he has really impressed with the Saints this season - can he continue that success with Spurs?