Louis van Gaal is still the favorite to take over at White Hart Lane, but Southampton boss Mauricio Pochettino is expected to be given an interview for the role.
Spurs have decided to make another managerial change just four months after the former England international replaced Andre Villas-Boas at White Hart Lane on an 18-month contract.
Netherlands coach Louis van Gaal is the favorite to replace Sherwood after the World Cup, while Tottenham chairman Daniel Levy is also a fan of Southampton boss Mauricio Pochettino.
It is unknown whether Sherwood will remain at Tottenham in another capacity but he has previously suggested that he would decline to act as a No. 2 to another manager.
Van Gaal is the clear favorite to replace Sherwood, having spoken openly about his desire to manage in the Premier League when he steps down as Netherlands coach after the World Cup in Brazil. The 62-year-old Dutchman met with Levy following the dismissal of Villas-Boas but did not want to split the Spurs job with his Netherlands duties.
Pochettino is expected to be granted an interview having impressed at Southampton, both in terms of results and the team’s style of play. The Argentine has a year left on his Southampton contract and has refused to sign a new deal, with key players including Luke Shaw and Adam Lallana expected to depart in the summer.
Sherwood has long feared losing his job and has paid the price for Tottenham’s almost certain failure to qualify for the Champions League, with the club seventh in the Premier League table ahead of Monday’s clash against Southampton.