So far the former Real Madrid and Manchester United star has not signed Galaxy's one-year extension but Redknapp accepts clinching a permanent deal with Beckham, who trained with Spurs last season, would be difficult.
But the prospect of offering Becks an exciting spell as a loan signing with a team chasing Champions League qualification could prove attractive.
Redknapp said: "I'm not aware of any agreement with David. I've always had the utmost admiration for him as a player and he's a fantastic role model.
"I wouldn't rule anything in or out. The biggest problem is accommodating him in the side because I have an abundance of riches in midfield."