Adebayor still in talks with Villa
Emmanuel Adebayor remains in talks with Aston Villa and the club could also snap up Jordan Veretout by the end of the week.
Togo international Adebayor is close to joining Villa on loan from Tottenham but talks are on-going between the two clubs.
The striker has reportedly had a medical and a deal could be struck within the next 24 hours.
Sherwood managed Adebayor at Tottenham and the striker scored 14 goals at the end of the 2013-14 season, before Sherwood left White Hart Lane.
The 31-year-old would be a direct replacement for Christian Benteke, who joined Liverpool for £32.5million earlier this month.
Adebayor is believed to have visited the club's Bodymoor Heath training ground on Tuesday and talks were ongoing away from the complex on Wednesday.
Nantes midfielder Veretout is also a target and could become the third player from Ligue 1 to join Villa by the end of the week.
Nantes president Waldemar Kita has admitted Veretout is set to leave and, while he did not name the club, it is understood to be Villa.
"We are basically agreed on everything," Kita told L'Equipe. "I am obliged to give in, he is 22, he has a big future and he will play for a great English club."
Sherwood has already raided France for Lille's Idrissa Gueye, Nice's Jordan Amavi and Lorient's Jordan Ayew.
He is trying to rebuild Villa, following the loss of Fabian Delph to Manchester City and exit of Ron Vlaar after his contract expired.
The boss is also prepared to offload several more players with left-back Aly Cissokho one of the men told he can leave.