Sherwood captained Rovers to the Premier League title in the 1994/95 season and has been one of the favourites to step into the Ewood Park hotseat since Steve Kean's departure last month.
Singh would have to negotiate a compensation package with Tottenham, where Sherwood holds the post of technical co-ordinator, and claims no approach has been made to the North London club at this stage despite reports to the contrary.
He told ESPN: "It is certainly not true to say that I have already approached Spurs a week or so ago and been turned down. I haven't spoken to anyone as yet. Whether I do plan to talk to Spurs... no comment.
"The process is that we have been inundated with applications. There were quite a few and I would expect there would be even more arriving.
"Of course I have my own thoughts, but we have had far more applications than we anticipated so we have a lot to think about, and as the position is so important we don't plan to be rushed into any decision."
The push for more color on their cleats, adidas has added the infrared colorway to the adiZero f50 Line.
The new PUMA evoSPEED 1.2 FG. A great new soccer cleat with classic look and first time for PUMA to be on the cleat.
The Liverpool 2013/14 soccer jersey is available for pre-order. The Reds are eager to compete for silver next season.
Chelsea won the Europa League on Wednesday. The Blues defeated Benfica 2-1 on injury time goal from Ivanovic.
adidas has added some color to the Predator line with this new colorway. Released on May 17. Be the first to own a pair.
Borussia Dortmund hears Wembley Calling and are headed to London for the Champions League final.
The Juventus jersey for the 2013/14 was released earlier this week. Be the first to wear the colors of the Old Lady.
Ajax has released their away soccer jersey for the 2013/14 season. Get in the Gear.
Bayern Munich are kings of Germany and hope to be crowned kings of Europe at Wembley later this month!
The adidas Nitrocharge is the most talked about new cleat in years. It was released on May 15 and will take your pitch by storm.