Erik ten Hag has signed a new deal as manager of Ajax, in what looks like a fresh blow to Tottenham in their search for a new boss.

The Dutch coach had been tipped as the bookies' favourite to succeed Jose Mourinho in the Spurs hot seat next season, following the Portuguese's sacking by the Premier League outfit.

However, Ten Hag has instead agreed on fresh terms with the Eredivisie giants, with an extended contract until 2023.

What has been said?

The Amsterdam club confirmed in a statement on their website: "Ajax has reached an agreement with Erik ten Hag for the extension of his contract which previously ran until June 30, 2022. The new agreement will take effect on July 1, 2021 and will run until June 30, 2023."

Ten Hag, who took charge of Ajax in January 2018, has enjoyed a hugely successful spell at the helm of the Dutch club, leading them to the semi-finals of the Champions League in 2019, beating Real Madrid on the way, only to fall to a last-gasp winner in the final four at the hands of Spurs.

He also won the Eredivisie title and Dutch Cup in 2018-19, and after last year's league championship was declared null and void due to the coronavirus pandemic, he has them on the verge of another trophy this season.

They lead second-placed PSV by 12 points with just four games to play. They have already claimed the KNVB Cup again this campaign, beating Vitesse in the final.

What about Spurs?

This news comes as Ten Hag had been installed as an odds-on favourite by some British bookmakers to become the new manager of Tottenham.

Spurs are seeking a new manager after sacking Mourinho, with Ryan Mason in interim charge until the end of the season.

They had also been heavily linked with Julien Nagelsmann, however, he was confirmed as the next manager of Bayern Munich in a record-breaking deal earlier this week.