Tottenham chairman Daniel Levy put a five million pounds release clause in Redknapp’s contract when he was appointed, and FA would also have to pay the remaining 15 months of a deal worth a basic 3.1 million pounds a year, should they want him as manager for the England squad.

Redknapp contract ends in June 2013 and the Spurs are ready to offer him improved terms if he wants to stay on at White Hart Lane. In addition to his basic salary, he has bonuses built into his contract.

When Tottenham finished fourth in the Barclays Premier League two years ago, he was awarded 500,000 pounds as part of the bonus structure.

He then picked up another one million pounds for getting beyond the group phase of the Champions League and there was a further incentive for reaching the quarter-final against Real Madrid.