Portsmouth are set to sign Italian goalkeeper Andrea Guatelli on a two-year contract from Parma.
Redknapp will be sorry to see Harald Wapenaar go
Guatelli, 20, signed a pre-contract agreement while on trial with Pompey, and will provide back-up for first choice keeper Shaka Hislop.
The capture of Guatelli will trigger the departure of Harald Wapenaar, who arrived at Fratton Park last summer.
Guatelli said: "I've been offered a contract with another year and if it goes well I'm happy to sign."
Pompey chairman Milan Mandaric is prepared to subsidise a portion of Wapenaar's salary to help get him off the wage bill.
Mandaric said: "We need to reduce some of our costs and sometimes that means letting people go.
"That can be hard with good characters," added Mandaric who will not have to pay a fee for Guadelli who was out of contract with the Serie A side.
Wapenaar said: "I have been unlucky because Shaka was in great form last season and I played only eight times when he was injured.
"I get on well with Harry but maybe decisions are made upstairs. I do my best when I get a chance so that I can find somewhere else to go."