Meanwhile, Redknapp believes Tottenham could win the Premier League this season.
The 63-year-old helped Spurs to their highest Premier League finish last season, with fourth spot also guaranteeing the club a place in the Champions League.
"I feel we could contend for the title; we have got the players here," added Redknapp.
"We have to aim for it. We could win the championship.
"Last year, we went in saying we wanted to finish in the top four and if you don't aim for things, you have no chance."
However Redknapp, whose only signing of the summer so far is Brazilian midfielder Sandro, said he would need to strengthen the squad in order to challenge strongly on both European and domestic fronts.
I feel that, if we can bring one or two players in, it will make a difference
"The Champions League is massive - forget budgets - we just want to be there," stated Redknapp.
"If we can get into the group stages, we can make an impact. We have good players - some fantastic ones at our club. And they can get better.
"We are going to have to rotate at times - we cannot play the best players all the time. I feel that, if we can bring one or two players in, it will make a difference."
This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.