The Northern Ireland international is currently without a club following his release by Fulham at the end of last season.
He has been training with QPR in an effort to work on his fitness and put himself in the shop window.
A number of Premier League sides are reported to have shown an interest in the 31-year-old, but no agreement has been reached as yet.
That means the door is still open for Redknapp to make a move, and he admits he would like to bring the experienced defender into a squad hoping to bounce back into the top flight at the first time of asking.
He said in the Fulham Chronicle: "I like Chris Baird.
"He knows what he's doing and he's a good player. I'd like to do something with him."