Blackburn are in the market for a new boss after taking the decision to part with Steve Kean's services.
Numerous names have been offered as possible candidates to fill the void, with Sherwood among them.
The 43-year-old spent seven successful years at Ewood Park during his playing days - captaining the club to Premier League title glory in 1995.
Sherwood has no managerial experience of which to speak, but he has been part of the coaching set-up at Tottenham since October 2008.
He has attempted to play down reports linking him with the Blackburn post, claiming he has 'a great job' already, but Rovers remain keen to hold talks.
They have, however, come up against strong resistance from Tottenham and face a race against time in their efforts to appoint a new boss before Saturday's Championship clash with Derby.
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