The Rangers manager claimed some players earn 'too much money for what they are', singled out Jose Bosingwa for refusing to sit on the bench against Fulham and suggested the club's summer transfer business had made cash for 'a lot of agents'.
The outburst prompted a Twitter response from owner Tony Fernandes, who argued that 'the value of a player is subjective', and Redknapp offered a more considered appraisal of his squad ahead of the Boxing Day game against West Brom.
Redknapp said: "I wasn't talking about all the players, I was talking about certain players.
"I've got no problem with players who are earning good money, and value for their money, I just felt there are one or two who haven't given this value.
"It's difficult. When Mark brought these players in, massive money wasn't spent here on transfers.
"So what they had to do is take chances. You have to take chances on players, you get them free and you pay them decent, bigger money and it's all a gamble.
"Sometimes it works and sometimes it doesn't."
Redknapp praised former manager Mark Hughes, claiming players not pulling their weight caused his sacking, and said he wants to take the club higher.
He added: "It was difficult for Mark, he was a top manager. I've got great respect for him.
"And the chairman here, I don't think I've met any nicer people in football. That's why I'm desperate to do well for the people who run this club.
"One or two of the players haven't pulled their weight, that's why Mark lost his job.
"If you want to go and spend 30 odd million on Aguero you know what you're getting. They're not gambles they're certainties. That's how the game works.
"When you're dealing at the other end of the market you're taking chances, you don't have the money for the fees. I'm going to be taking the chances now, in the transfer window. Hopefully they'll come off but there's no guarantee.
"Most of the lads here have been absolutely brilliant, top class. I still feel we'll get out of trouble."