Chairman Daniel Levy has already warned that Redknapp has enough talent in his squad to succeed without further investment.
"If there is no money, there is no money," he said in The Daily Mail.
"The chairman at Portsmouth used to ask me if I needed anything and I would say no.
"I don't want to spend (Levy's) money. If the chairman says there is a certain amount to spend then that is different.
"But if there is no money then I am just as happy to find a couple of loans and free transfers if I have to bolster the squad."