Redknapp, 63, had been expected to cash in on the club's Champions League winnings and snap up some superstars. Despite being linked to Steven Pienaar, Scott Parker and Emmanuel Adebayor, little movement is expected at White Hart Lane.
Speaking to Sky Sports News, Redknapp revealed he was more concerned about allowing youngsters leave the club temporarily to gain first team experience elsewhere.
He said: "Maybe [there will be] one or two loans going out."
Also, when asked about a reported move for Everton's Pienaar, Redknapp moved to rubbish the claim.
"There is nothing in that [Pienaar], I don't think. I thought it was April Fool's Day with some of the players we have been linked with today," the ex-Portsmouth manager concluded.
"I don't think we need to be doing anything. I will be very surprised if anything happens."
He added: "At the moment I really don't think we are anywhere near doing any deals today."