The Daily Mail says Redknapp, who sent his chief scout Ian Broomfield to see Forrest score the opener in Saturday's 2-0 away win over St Mirren, insists that no deal is imminent.
"He's a good player but we've not made any bids. 'If we did, I would speak to Neil Lennon.
"He's a player we've had watched but he belongs to Celtic.
"At the moment, we're not in the market to really do anything. We're looking at a few options but nothing definite."