A much better question to ask is who you'd take if LvG falls through.
I guess most would say Ancellotti, but it's by no means certain he'd be available/wants England again/would come to Spurs. If that's correct, then Levy would have a really tricky decision if it's not LvG.
Do you drop down and pick a 3rd or 4th choice candidate who you know would be below the tier of elites like LvG and CA? Do you then back that guy financially/emotionally/time-wise, knowing deep down that he's not really what you want? And how would that atmosphere undermine the whole mood around the new coach?
This is why I think all you guys hoping to see the back of TS need to be a bit concerned. Because if I was Levy and couldn't get LvG, and assuming Ancellotti isn't available, I wouldn't be happy with any of the other candidates. At which point, Sherwood becomes the obvious choice, because Levy wouldn't have to suffer the emotional upheaval of getting some 3rd-choice foreigner in and then worrying about having to sack him after he's spent £Xm. At least with Sherwood he'd be easy to sack, he wouldn't demand massive xfer funds, you already know the guy, he'd be a smooth transition over summer, he could be sold to the fans by Levy as "a brave experiment in promoting youth from within" etc. etc. etc.
That's why I think the only real candidates are LvG, Ancellotti and Sherwood. Rafa maybe if he suddenly become free. The rest of the field? I don't think any of them are going to happen.