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Tottenham Hotspur manager Harry Redknapp believes that Chelsea's £22 million bid to sign midfielder Luka Modric is ‘ridiculous’.

Modric has been the subject of much transfer speculation all summer with both the Stamford Bridge club and Manchester United touted as possible destinations for the Croatian international.

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Tottenham’s failure to qualify for the Champions League had cast doubt on whether it would be able to keep hold of its key players such as Modric and Gareth Bale.

However these claims have rubbished by the former Portsmouth manager as he looks to keep his best players with Spurs aiming to challenge for Champions League football again next season.

Redknapp told the BBC: "Luka is not for sale. If there has been a bid of £22m that is ridiculous. There are people being sold for £20m who are not fit to lace Luka's boots."

Spurs sources had earlier told Goal.com that chairman Daniel Levy has "no intention" of caving in to Chelsea owner Roman Abramovic, and is "adamant" that Modric will not be sold at any price.

Modric played a pivotal role in helping Spurs reach the quarterfinal stage of the Champions League in their debut season in the competition.

The midfielder has made 119 appearances for Harry Redknapp’s side since joining in the summer of 2008 scoring 12 times.

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However, despite their recent problems, Redknapp insists Carlo Ancelotti’s side remain a threat in the league. “It would be a miracle if we did it,” said Redknapp. “People get carried away thinking Tottenham should be in the Champions League. Why should we be in the Champions League?

“We’d never been in the Champions League before, suddenly we do it and it’s: ‘Oh well, we should do it again.’ Look at Man City and Chelsea. Have a look at their wage bills. Have a look at the money they pay out. Why should we finish above them?

“If you asked me at the start of the year to put my life on who I’d go for [to qualify] – I think City with Tévez, Balotelli. Have a look at the strength they’ve got.

“Man United are nailed on, so are Arsenal. If we make the top four it will be a fantastic achievement for the players but it will be tough.”

Redknapp is without Rafael van der Vaart at Bloomfield Road after the forward damaged a calf in training on Sunday. But it is in defence that Spurs are short with Gareth Bale, Alan Hutton, Vedrun Coruka, Jonathan Woodgate, Ledley King and Younes Kaboul all missing.

William Gallas is likely to have to play at right-back as Spurs look for a fourth straight Premier League win for the first time in 11 months.

For that reason, Redknapp remains cautious, adding: “Finishing above Chelsea this season would never have entered my mind. After 10 games we were all going to give the championship to Chelsea. They were walking away with it so it’s amazing how it’s turned.

“I still expect Chelsea to go on a run. They can still finish second anyway. They’ve got the players there, the strength. It’ll be tight.

“The top four is going to be difficult. But we’re right there at the moment, as we were last year. Even with the European campaign and the injuries we’ve had, we’re still in both competitions. It’s great.”

Spurs face AC Milan in a fortnight 1-0 up and 90 minutes from reaching the quarter-finals of the Champions League. Redknapp said: “I see the Champions League as an amazing bonus, and people forget that. If we can do it two years running it will be great.”

Ian Holloway, the Blackpool manager, lent support to Redknapp’s case to replace Fabio Capello as England manager after Euro 2012. “I would love to see him in that chair,” said Holloway. “He can handle it and he’d get our players to play the way his clubs play – with a great deal of attacking prowess.”

Holloway is still looking for emergency cover for Richard Kingson, his only fit senior goalkeeper. “We’re not able to stack and rack four or five goalkeepers like most other people,” he said.

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{ • Tottenham manager weighs up transfer gains and losses
• 'We have not had goals from our front players this year'

Mike McGrath guardian.co.uk, Tuesday 1 February 2011 22.29 GMT Harry Redknapp was at a loss to explain a move for Blackpool's Charlie Adam with only 20 minutes of the window left open. Photograph: Geoff Caddick/EPA

Harry Redknapp fears that Tottenham Hotspur's chances of Champions League qualification are under threat after missed opportunities in the transfer market.

The Spurs manager made it clear he did not wish to criticise his chairman, Daniel Levy, yet would not disagree with the Everton manager, David Moyes, who described a £500,000 bid for Phil Neville as "insulting". "It was a pretty low offer for a good player," Redknapp said. "I couldn't argue with David on it."

Redknapp was also at a loss to explain why a move for the Blackpool midfielder Charlie Adam came with 20 minutes of the window left open. "I don't know. Pass," the manager said. "At 10.40pm I'm ready to go to the hotel back to bed, suddenly we're going to sign Charlie Adam and I thought: 'We haven't got a lot of time here.' And we ran out of time."

Redknapp snapped up Rafael van der Vaart on deadline day of the first window of this season. But this time around he was watching rolling news on television while one of his previous targets, Andy Carroll, moved to Liverpool. "It was funny watching it on Sky, Newcastle were pushing the price up by the minute and they were probably doing cartwheels in the boardroom," Redknapp said.

The arrival of Carroll and Luis Suárez at Liverpool means Redknapp expects them to be a direct threat for a Champions League place, while Chelsea are now title contenders again after signing Fernando Torres and David Luiz. "At the start of the month, before the window, I felt the championship was up for grabs," Redknapp said. "It's going to get harder because the other teams are looking stronger with the strength of their squads.

"People were talking about Chelsea dropping out of the top four but by signing Fernando Torres Roman Abramovich has said: 'I don't think so.' I can see them being close to winning the league. Liverpool are still contenders for a top-four spot. Andy Carroll is a talent. He is a big, powerful centre-forward who could be a great hit at that club."

Redknapp was thought to be undecided on some of his targets, such as the Holland midfielder Mark van Bommel, and £140,000-a-week wages for Diego Forlán prevented him from recruiting the Uruguay striker. Signing a forward was a high priority after six league goals from Jermain Defoe, Peter Crouch and Roman Pavlyuchenko this season but Spurs missed out on Carroll, Forlán, Giuseppe Rossi and Sergio Agüero.

"I think if we found the right player we would have done something," Redknapp said. "I don't know what offers we made for these players. We have not had goals from our front players this year. It has been a problem."

There are problems in defence, too, for Redknapp and he confirmed that Ledley King requires surgery to cure his groin injury. Younes Kaboul will also need an operation following knee problems. Michael Dawson is suspended for tonight's trip to Blackburn, so Jonathan Woodgate could make his first appearance for 14 months after his groin injury. "He will be involved somewhere but I have it in my mind to throw him in at the deep end," Redknapp said. "He could start."

Redknapp admitted that Bongani Khumalo, one of two pieces of business Spurs managed in January, was not ready to play in the Premier League after his move from the South African team Supersport United. "Adapting? It's not adapting, it's whether you're good enough," Redknapp said. "He wants to be a player. He is a young kid really with loads to learn but he wants to learn and has the raw talent."

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