Has he? From what I remember he did pretty well at Chelsea (in the days when Chelsea were a bit shit and weren't loaded) and Southampton, and I don't recall him being disastrous at Spurs.
Spurs could do a lot worse than getting Hoddle back. If you overlook the fact that he is weird then he is a decent manager.
It might work for a bit but I can see it being a bit Kenny like in that it will spark them to begin with but is based on nostalgia and is doomed in the long run.
So, get Hoddle!