Speculation over Rooney's future reached fever pitch today after Sir Alex Ferguson admitted the England star wanted to leave Old Trafford and was refusing to sign a new contract.
And Redknapp was one of the first to openly declare an interest in landing the 24-year-old, whose current deal has less than two years to run.
Redknapp reckons Rooney could be a bargain if he lets his contract run down.
"I'm going to speak to my chairman and see if we can get Rooney to Tottenham," Redknapp joked ahead of his side's Champions League clash with Inter Milan tomorrow night.
"But I doubt very much whether that will happen.
"I haven't seen Alex's interview but I'm sure that its honest and its open and if he's explained it openly then that's got to be good.
"I think these things need to come out in the open sometimes.
"Everybody wonders why this has happened, why that has happened.
"The game belongs to the people and the people should know what happens more in football.
"Too many people feel that the most important people of all, the people who pay the wages, are kept in the dark.
"Come out and tell it as it is."
Pressed on whether Tottenham were realistic contenders for Rooney's signature, Redknapp said: "It's not impossible.
"If he's going to stay in England, who knows?
"You've got to be interested when the very, very best players become available but it would be a big ask.
"I'm sure there'll be some big fish out there wanting to take Rooney, that's for sure.
"He's a fantastic player - he's having a bad spell, he's had a bad two or three months - but he's a great player."
He added: "At the end of the day, Wayne Rooney will be a free agent.
"What an amazing situation to be in: somebody who's worth £50million-£60million will be a free agent.
"He's going to want a decent signing-on fee; he's not going to be cheap, is he?
"Players do have the power now.
"If he doesn't want to sign a contract, he's a free agent.
"What a position to be in.
"He's in a position where, if somebody gives him £30million, you're still getting a very cheap player - if they give it to him personally. That's without his wages.
"He's got 18 months to get through before he's going to be free, which is going to be difficult.
"But if that's the road he wants to go down, he can go down that road.
"Man United can do nothing about it.
"All they can do is keep trying to make him a better offer to sign a contract, I suppose. There's no other way out for a club.
"One thing's for sure, he won't find a better club than Man United to play for.
"He's got a great manager there.
"I don't know what's gone on there but it's a shame if it ends that way."