Spurs technical director Franco Baldini offered his resignation in the wake of Andre Villas-Boas' dismissal earlier this week, according to the Telegraph.
Daniel Levy rejected Baldini's offer despite the Italian arriving at White Hart Lane on AVB's recommendation having performed a similar role at Roma and Real Madrid. He was also Fabio Capello's right hand man during his time in charge of England.
Spurs found themselves with £100m to spend in the summer after Gareth Bale was sold to Real Madrid, and Baldini played a pivotal role in bringing the players in who have failed to meet expectations so far this season.
Levy called time on AVB's stint in charge after this month's humiliating 5-0 defeat at home against Liverpool, which followed another embarrassing mauling at Man City.
Baldini is now expected to help Spurs find a suitable replacement for Andre Villas-Boas, which could well be Tim Sherwood if he makes a positive start to life in temporary charge in the Premier League.