After their Carling Cup semifinal victory over Burnley, Redknapp said: "The little fella will score goals and give us all a lift.
"I said I would not go back there and upset anyone, or try to take any players unless the club wanted to sell them - and Portsmouth wanted to sell Jermain, to us, to Manchester City or whoever was going to pay some decent money.
"It was a good deal for everyone. What a fantastic deal for Portsmouth in a year, the money they have earned out of him.
"They can have no complaints, they have sold Lassana Diarra for £20million, who I paid £5million for, and there are a few more they will make fortunes on, I am sure, because they have got some terrific players there.
"They even got £5million for me, and I am only worth about five bob, which is how silly it all was really."