With Arsenal and Liverpool reportedly keen on signing Remy, Redknapp - QPR's manager - confirmed he would not stand in the 27-year-old forward's way, if he finds a new employer.
QPR gained promotion to the Premier League on Saturday, ending their stint in the Championship after one season, but with Remy keen on playing in the UEFA Champions League, Redknapp knows his team cannot match the Frenchman's ambitions at this time.
"I don't see Remy wanting to come back and play," Redknapp said.
"He's talking about playing Champions League somewhere.
"I wouldn't know what he'll do but I think he's got a buy-out clause, which is at a reasonable level. Not much more than we paid for him."
Remy, who spent last season on loan at Newcastle United, scoring 14 goals in 26 Premier League matches, was purchased by QPR in January 2013 for £8million.
The former Nice and Marseille striker is currently fighting for a spot in France's final 23-man squad for the FIFA World Cup in Brazil.
