Tottenham are not in debt. Unlike Manchester United they make a profit and are run very well by a good company that hasn't bought it's way in by way of loans charged against the club. They simply are not quite as rich as other clubs, have a more rational salary structure, and thus are prey to the big boys as long contracts run down. Until success can be acheived and a new stadium completed, this will continue. Modric and Bale still have a way to go till their contracts are run down, and Spurs also still manage to persuade rising stars like Walker, Kaboul and Sandro to extend their contracts because they play exciting football that attracts loyalty.
Harry Redknapp is the odd one out in this situation. He has no loyalty, and no particular tactical sophistication.He has succeeded at Spurs because of a very good squad, but HIS additions to that squad are short term and not going to change the world in the timespan Levy is thinking of. When things go wrong at White Hart Lane they largely do so because Harry screws up or, as recently, takes his eye off the ball.
As for the often villified Hodgson, he is more experienced than Harry, speaks LANGUAGES .... name me another ENGLISH manager who can even speak his own as well - and has a great deal of tactical knowledge. He has worked at high level and has managed internationally at a level probably comparable to England (i.e. not very high). He can also add up, take away, and write his own name.
Only ONE thing has created problems for Roy Hodgson, and that is journalists. Like footballers, journalist are very self-interested. They love a quote because it means they don't have to work hard, and Harry gives them quotes by the bucketload. That is why THEY say that Harry is a better choice than Roy, and they are clearly wrong. His appointment would just simply have meant that they didn't have to spend painful time thinking and writing. They will quickly remember the names of a few vegetables.
Harry lost his head (which caused him to take his eyes off the ball) when he thought he was getting the England job, and as a result Spurs dipped, perhaps losing Champions League football as a result. I blame the Sun for that, then Harry, and finally the Spurs players. If the players do the decent thing now they will go out and win their two remaining games, get in the Champions League and then look on in amazement as Daniel Levy sacks Harry for being an unprofessional self-server who always, unlike Dan, thinks short-term.
My guess, sadly, is pigs will fly first.