Chelsea earlier this summer offered £22 million for the playmaker, a bid that was swiftly rejected by Spurs.
“I was surprised by the figure,’’ Redknapp said of Chelsea’s offer. “It’s a farcical bid. If they’re going to make an offer, make an offer, but £22m for Luka Modric is ridiculous.”
But Redknapp would not say what kind of bid might interest Spurs, also rejecting the notion that £30m would be enough and insisting the player was not for sale.
“We wouldn’t put a valuation on him,” he said. “He’s such a fantastic player, we don’t want to sell him. He’s up there with the very, very best players in the Premier League and I think he can play in any team in the world, he’s that good.”
Speculation over Modric’s future has come to the fore this summer after Spurs missed out on Champions League football, and Redknapp admitted it would be a challenge to compete financially with the Premier League’s top clubs.
“That is the problem,” he said. “It’s not only Chelsea who would want him, two or three other clubs would be bidding if we made him available.
“We need to improve our squad, not decimate it by selling our best players. There’s no reason we can’t show the ambition ourselves. I’m not saying we can pay the wages of Manchester City or Chelsea, but we’ve got a great group of players and if we can add a few more anything could happen.”
Tottenham midfielder Rafael van der Vaart, meanwhile, believes Modric’s desire to leave Spurs is not down to financial reasons.
“If someone wants to leave it’s difficult to keep them,’’ he said. “When a player is unhappy it’s not a good thing. Luka and (Gareth) Bale don’t play for money — they play to win something. If they have to go to another club it’s their decision. But I hope they stay because they are fantastic and really important for the club.”