David Beckham has been told to get a move on if he is to join Spurs on loan or any deal will be off.
Spurs remain the favourites to sign the former England captain as he ponders a loan deal during the MLS close season but Redknapp says he needs to do it quickly.
The new MLS season resumes in mid March and Redknapp believes any move will be pointless if he does not get it completed quickly.
He told the Mirror: "I haven't spoken to anyone about it for a couple of days because it is in the hands of [club secretary] Darren Eales and the chairman.
"It can't go on too long because otherwise it would be a waste of time. By the time David comes here, settles in, and then he is only here for five or six weeks - it's a waste, isn't it?"
"It's dragged on a bit and they [LA Galaxy] might not let him go. It's 50-50. We need to know, really."