Will Redknapp, who has a reputation as a troubleshooter, be the man to lift the west London club off the bottom of the table and towards a brighter future?
Here is a look at the trials and tribulations of Redknapp's rescue missions.
Redknapp returned to assist manager David Webb at the club where he had spent six years as a player, following spells as a coach with Seattle Sounders and Oxford City. But with the Cherries struggling at the foot of Division Three and faced with dropping out of the league, Redknapp was soon handed the manager's role on a permanent basis, going on to guide Bournemouth to safety and a famous victory over Manchester United in the FA Cup to boot. A few years of careful consolidation followed before Redknapp guided the Cherries to the Third Division title with a club record points tally of 97 in the 1986-87 season.
West Ham, 1994
After leaving Bournemouth in 1992, Redknapp returned to another of his former clubs, West Ham, reverting back to the role of assistant under Billy Bonds. The Hammers began to flounder under Bonds' stewardship and the former defender was forced to hand the reins to Redknapp in 1994. Under his supervision, West Ham steadily became an established force in the Premier League as talented youngsters such as Rio Ferdinand and Frank Lampard - Redknapp's nephew - broke into the first team and the England set-up. The Hammers finished eighth in 1998 but Redknapp turned down a four-year contract extension in 2001 and left the club.
Redknapp re-emerged as director of football with Division One strugglers Portsmouth in 2001. Graham Rix was sacked for flirting with relegation and Redknapp duly returned to the touchline, quickly guiding Pompey to the title and a long-awaited promotion to the Premier League in 2003. Redknapp managed to keep the south-coast outfit in the top flight at the first time of asking but left the club in 2004 ignomoniously following an argument with chairman Milan Mandaric over the appointment of Velimir Zajec as director of football.
Redknapp made the highly controversial decision to accept the manager's job with Portsmouth's most hated rivals - Southampton. The task was to keep the Saints in the top flight, but this time Redknapp could not turn the club's fortunes around and they were relegated to the second tier for the first time in 27 years. Redknapp failed to mount a consistent bid for promotion and left St Mary's under a cloud when chairman Rupert Lowe appointed Rugby World Cup winning manager Sir Clive Woodward to the club's coaching staff in 2005.
Answering a cry for help from the club he had left just one year earlier, Redknapp returned to Fratton Park to steer Portsmouth away from a prompt relegation to the Championship. A fine run of form at the end of the season, coupled with the club's takeover by rich benefactor Alexandre Gaydamak, saw Redknapp book survival in the top flight. The wily tactician would go on to lead Portsmouth to their highest league finish since the 1950s by booking ninth spot at the end of the 2006-07 season. And after turning down the vacant manager's job at Newcastle in January 2008, Redknapp led Pompey to FA Cup glory with a 1-0 victory over Cardiff.
When Juande Ramos left Tottenham languishing in the relegation zone with just two points from eight games, chairman Daniel Levy knew exactly who to call. In his first two weeks in charge at White Hart Lane, Redknapp claimed 10 out of the 12 points available to guide Spurs away from danger. Crisis averted in the short term, Redknapp booked fourth place in his first full season in charge, winning the Premier League manager of the year award and guiding the north London club to not only fifth and fourth-placed finishes but also the quarter finals of the Champions League. Redknapp was sacked by Spurs in June 2012, though, after failing to agree terms on a new contract.