Redknapp told Sky Sports News: "I can't see the sense in loaning him for a year. He's got three years left on his contract, he's just played for Brazil in the Confederations Cup and been absolutely fantastic.
"I think he's a goalkeeper for any team in the world he's that good, so to loan him out for a year and then have him back is absolutely pointless.
"What's the point in loaning him for a year then getting him back on massive wages for another two years? He's in his prime at the moment, I'm sure he's wanted by lots of clubs around the world."