Redknapp questions QPR fine for failing FFP
The Loftus Road outfit – now in the Premier League – will be slapped with a fine that could go up to £50 million for breaching financial regulations.
QPR owner Tony Fernandes has promised to "fight" any fine from the Football League despite the club racking up huge losses of over £65m during the 2012-13 season.
Last season's figures are yet to be released but given the club played in the Championship, they are not expected to be kind on QPR.
Football League chief executive Shaun Harvey warned this week that QPR could be thrown out of professional football if they are ever relegated and refuse to pay the fine.
The Football League run the Championship, League One and League Two, in addition to the League Cup.
There has also been the suggestion that QPR could be booted from the League Cup as early as next season if they do not comply with the sanction but Harvey stressed that he hoped the issue could be resolved long before then.
Redknapp showed his faith in QPR's owners at a news conference on Friday, though, and said the current rules made life difficult for sides relegated into the Championship.
"I'm sure the owners know what they are doing," Redknapp said.
"If a team invests and gets relegated then what do you do?
"You can't just offload all of your players, it is very difficult to do that when they are on Premier League wages and are in the Championship.
"It's a chicken and egg situation. Do you just come up and not spend and go down again, or do you spend a bit of money try to stay up and then be in trouble for Financial Fair Play?"
Redknapp's men face Manchester United on Sunday, a team who have spent more than £150million in the recently completed transfer window.
The likes of Angel di Maria, Ander Herrera and Radamel Falcao have all joined United and Redknapp feels the fact United can spend so much and not fall foul of Financial Fair Play rules, due to their revenue streams, is unfair on clubs like QPR.
And he thinks capped spending in the transfer market would ensure a close-to-level playing field.
"To make it fair, we should be able to spend as much as Manchester United," he added.
"What is fair play? One team can spend £200m, another team can spend £8m?
"Fair play would be everyone having the maximum of £30m to spend on their team and then have to bring in some players from the youth team.
"Seven teams are on another planet to the rest. You don't have to be a genius to pick the top seven teams - it will be almost certainly be the same seven as last year."
Redknapp added that he expects to sign a contract extension at QPR in the coming days.