Despite rumors that Tim Sherwood had only been offered the opportunity to manage Tottenham Hotspur on an interim basis, with a more experienced candidate likely to take over the reigns at the end of the season, Spurs have appointed Sherwood as permanent manager. He's signed an 18-month contract that runs through the end of the 2014-15 season.
Here is Daniel Levy's statement from the official club website.
"We were extremely reluctant to make a change mid-season, but felt we had to do so in the Club's best interests. We have a great squad and we owe them a Head Coach who will bring out the best in them and allow them to flourish and enjoy a strong, exciting finish to the season. We are in the fortunate position of having within our Club a talented coach in Tim Sherwood. We believe Tim has both the knowledge and the drive to take the squad forward."
This is a very level-headed, PR-friendly statement from a chairman who was reportedly actively courting other candidates who were not interested in the position. While Sherwood has been marked as a possible future manager for a long time by the Spurs brass, there's no hiding that he was not Daniel Levy's first choice.
Having said that, he's the manager. This is his team. He's going to have a chance to implement his style of play and he'll work closely with Franco Baldini on shaping the squad over the next three transfer windows. Sit back and enjoy the ride.