The Mexican almost left White Hart Lane at the end of last season but Spurs boss is looking to offload the winger for a fee before his contract expires in the summer of 2013
The Mexican winger has made only 13 appearences for the north London side since his £4.7 million move from Barcelona in 2008 and, although the Spurs boss concedes that he is a very talented player, he is deemed surplus to requirements at White Hart Lane.
With the 22-year-old's contract expiring at the end of next season, the former Portsmouth boss has decided to cash in on him.
"Gio is a good player and is a good lad. He has good ability but in the end his contract is gradually running out so I don't know what you'd get for him in the end," Redknapp told reporters.
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"The chairman of Udinese came over and had a chat with the chairman and he wouldn't go and that was a lot of money.
"I don't think he wants to sign a new one [contract] so I think the £13m would have been a good deal."