Spurs have long been heavily linked with a move for the 24-year-old England international.
Redknapp said: “I’m tapping him up – I’ve been round his house a couple of times. We’ve done the deal; he’s okay.
He added: “We’ve got Gareth Bale – what would I do with him [Young]?
“I can’t get Niko Kranjcar on the pitch; he’s a fantastic player.
“What am I going to do with another left winger, give myself another headache?
“I’m strong in those [wing] positions: I’ve got Aaron Lennon, got Gareth Bale, got Luka Modric who can play off the left. It’s hard enough as it is.”