The boss confirmed that he turned down an offer for the striker in the summer because he was worried that Defoe would return to score against Spurs.
"I'd be scared to sell him," Redknapp told a press conference. "He'd return and haunt you.
"Someone asked if I'd do a swap with someone they couldn't give away. I thought he was drunk."
Defoe has scored two goals in the Premier League this season.