Kane is once again having a fine season in front of goal for Tottenham.
The England captain has always maintained his commitment to the north London club.
But Nicol believes Kane is as loyal to Pochettino as he is to Spurs.
So he reckons the 25-year-old would be the first player, of many, to be out of the door if Pochettino was to move on.
“You’ve got a loyal guy, you’ve got a home guy, brought up at Tottenham,” Nicol said on ESPN FC.
“But I think the main thing that Tottenham have that’s keeping him there is Pochettino.
“Listen, if Pochettino went in the summer to Manchester United or Real Madrid or anybody else, then you would see an exodus and the first one out would be Harry Kane.
“Right now he is completely loyal to Tottenham but more importantly I think he’s loyal to Pochettino right now.”
Alejandro Moreno can understand Kane’s loyalty to Spurs but says a move to Real Madrid would be something the striker would have to think about.
“I think so [Kane could walk into any team],” Moreno said.
“And when we consider big teams and teams that need a player like Harry Kane, at the top of that list is Real Madrid.
“So I know that Spurs fans get a little sensitive with this because they’re saying ‘well, Harry doesn’t want to go anywhere, he will never leave’.
“Well okay maybe he doesn’t want to leave.
“But if Real Madrid comes knocking, at the very least you have to listen, you have to pay attention.
“And if you’re Harry Kane and you think to yourself ‘well I would have loved to have been part of Tottenham for the rest of my career, but Real Madrid is an entirely different level’.
“And it gives you a whole world of possibilities that, I’m sorry, Spurs are not going to give you.”
