Tottenham chairman Daniel Levy must begin a search to replace England favourite Fabio Capello.
The London Evening Standard says Redknapp, who was yesterday found not guilty of two counts of cheating the public revenue, has 18 months left on his current contract.
Spurs could yet agree a new contract with their manager, who led them to the Champions League for the first time in their history in 2010, and is well placed to do so once more this season.
Redknapp might still be released to the Football Association under such circumstances but Spurs would be in a far stronger bargaining position if Redknapp still had a significant amount of time left on his contract.
And after Redknapp? Carlo Ancelotti was Tottenham's first choice for a long time but that avenue is now closed after the former Chelsea manager decided to move to Paris St-Germain.
Should Spurs reach the Champions League this season, it is likely that Levy would seek a manager with experience in that competition. There have been informal talks between Levy and Redknapp's representatives to discuss the future.
