The Arsenal manager said: "I have a good team and they have enough quality to fight to be champions. I selected these players, they have enough belief and enough ambition.
"If you have £100m and another club have £200m to spend, you want £200m. If they have £400m, you want £400m. Football is great because everyone has a chance of developing a team with their own philosophy.
"This team is my choice. When I go and watch a team, wherever they are in the world, I don't look at how much the team cost. I go there to enjoy the game."
"They pass the ball around as good as anyone," said Redknapp.
"They will be up there. Arsene brings talented players in from all over the world and he doesn't need to spend much money. They are full of quality, but you can't give goals away like we did. They were gift goals."