Redknapp is going to ask them for an outrageous contract. He'll have more money than the inland revenue. Oh wait ...
Also, I'm not sure how good he'll be. The thing he is good at, is buying and selling players. Players like Van Der Vaart and Diarra - a player who played for Portsmouth and then went in a megabucks move to Real Madrid. You can't do that in International football. Sadly we can't offer the Dutch a few quid for Van Persie or try to offload an ageing Lampard in exchange for Fabregas. He's not reknowned for being a master tactician, he's reknowned for being a bit dodgey and wheeling & dealing. Neither or which are going to help him be an England manager.

Still, if its him or Woy Hodgeson ...
