Martin Jol has been sacked as manager of Spurs after three years in the job.
Spurs are third from bottom in the Premier League
Reports swept around White Hart Lane as Jol presided over Tottenham's 2-1 Uefa Cup defeat by Getafe, but the club only confirmed the news after the match.
"I shall never forget the Spurs fans," Jol said in a statement. Assistant Chris Hughton was also dismissed.
Clive Allen and Alex Inglethorpe take charge for Sunday's game with Blackburn while Sevilla coach Juande Ramos is favourite to take over.
Former Spurs player Allen is the club's development coach, while Inglethorpe is youth team manager.
"For me, Martin and Chris's departure is regrettable," said chairman Daniel Levy.
"Our greatest wish was to see results turn in our favour and for there to be no need for change."
It was claimed Spurs met Ramos in August with a "dizzying" offer to replace the 51-year-old Jol at White Hart Lane.
BBC Sport football correspondent Jonathan Legard said Jol's eventual departure was unavoidable from that moment on.
"It was inevitable ever since Spurs' representatives were caught red-handed in Seville talking to Juande Ramos," said Legard.
"For all the denials from Spurs that nothing untoward was going on, and that it was a meeting about a matter completely unrelated, clearly Jol was a dead man walking and has been ever since."
Ramos is regarded as one of the most promising coaches in European football after guiding Sevilla to back-to-back Uefa Cup titles.
Sevilla beat Spurs on the way to their success in last season's Uefa Cup, while Ramos also led his side to third in La Liga and victory in the Copa del Rey - Spain's top domestic cup competition.
But with Sevilla in the Champions League Ramos opted to see out his contract with the Spanish club which expires next summer.
However Sevilla director of football Ramon Monchi was pictured in the stands as Spurs lost to Getafe and it is thought he was at White Hart Lane to negotiate Ramos's switch to Tottenham.
Gus Poyet has been linked with the assistant manager position under Ramos, but the former Tottenham and Chelsea midfield player has told BBC Sport he has had no contact with Spurs.
I don't think he will have a problem finding a new job
Getafe boss Michael Laudrup
During the defeat to Getafe Spurs fans gave vocal support to the Dutchman, singing "Stand up for Martin Jol".
Jol took charge of Spurs in November 2004, replacing the unpopular Frenchman Jacques Santini, and under him the club twice qualified for the Uefa Cup.
Having recruited the likes of Darren Bent, who cost £16.5m, Gareth Bale and French defender Younes Kaboul during the summer, Tottenham had high hopes of challenging for a Champions League place.
But Spurs suffered a disastrous start, recording just one victory - the 4-0 win over Derby in August - in 10 league games and since the reported meeting with Ramos, Jol has faced constant questioning over his future.
Jol's agent is currently in Brazil and was unavailable for comment late on Thursday as regards the terms of the Dutchman's severance package.
"Given what he did last season I don't think he will have a problem finding a new job," said Getafe boss Michael Laudrup after his side's win.
Jol has been linked with Dutch club Ajax who are without a permanent coach following Henk Ten Cate's departure to Chelsea.