Sherwood signed an 18-month contract with the Tottenham after replacing Andre Villas-Boas in mid-December of last year. The 45-year-old was sacked despite having the highest win rate of recent managers at Spurs with 59.1% ahead of Harry Redknapp who secured the clubs highest position of fourth in the 2011/12 season.
The inexperience of Sherwood as a manager in the Premier Legue over other managers was thought by many to place him lower down in the odds to take over. However in an interview with Match of the Day on Saturday Parish hinted that the new manager should have an 'intimate knowledge of the league as a player or a manager' leading many to tipp Sherwood to suit that specification.
With the exit of Tony Pulis and his backroom staff Palace co-chairman Steve Parish will be looking to quickly fill the void. Parish told Match of the Day that there is a 'big transfer budget agreed' which will now be available to the new manager to bring in the players they want.
Sherwood would likely bring in his backroom staff which also include former pro-player Les Ferdinand. Having reportedly turned down the opportunity to manage West Brom it remains to be seen if Sherwood will return to management and take the opportunity with Palace to exert revenge on his former bosses after his harsh sacking.
The other close contender to fill the vacancy is former Cardiff manager Malky Mackay. It is thought that the previous partnership between Mackay and Palace Sporting Director, Ian Moody a big plus for the appointment of the Scot. The appointment of the next Palace manager is expected to be made next wednesday/thursday and what is guarenteed is that the Palace fans will be watching with close attention.