Redknapp had been favourite to take over from Sam Allardyce as manager for Newcastle.
He said: “I’m happy, I’ve got a great relationship with the fans and the owner.
“To walk away having brought them here wouldn’t be right. It was a great offer.
“To be offered the chance to go and manage a fantastic club like Newcastle was a terrific opportunity, but it wouldn’t have been the right thing to do.”
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The start of the 2017-18 Premier League season is just around the corner and is shaping up to be one of the most competitive yet.
As always it is the so called “big clubs” that have splashed the most cash in the transfer window so far this summer. Manchester United or City? Arsenal or Tottenham? Who are the winners and losers of the transfer window so far?