Redknapp has alredy added Kevin Bond and Clive Allen to his coaching staff and it is not known what role Sherwood will have at White Hart Lane.
He said: “I will be here in some capacity. I’m pleased to have the opportunity to be involved at such a great football club.
“I’m not sure how I’m going to be involved. It’s only going to be part-time because the club won’t be in my mind 100% of the time.
“It’s a fantastic football club. If someone would have asked me where I wanted to get back into football then I would have said Tottenham Hotspur.
“I don’t know what the plans are. This a great club. I have it heart and I want to see them do well.
“Spurs should not be at the bottom of the table.”