Lawyers for the former Southampton manager reportedly sent a libel claim to the BBC because they believed the station had leaked the information to the press, which the corporation denies.
The programme claimed footage of Redknapp talking to agent Peter Harrison was proof of “tapping up” defender Andy Todd.
But having seen the programme the 59 year old is unlikely to proceed with the action.
“I don’t think there is anything in it that I need to worry my lawyer about,” he said.
“From my point of view it was farcical. What was I doing on there? I don’t know. Its history now and I want to move on.”
Redknapp also gave his support to fellow manager Sam Allardyce who was at the centre of many of the allegations of the programme and he insists the allegations won’t affect the Bolton boss.
“He is a fantastic manager, a lad who is so clever at what he does in terms of preparing teams.
“He is excellent as a manager and a smashing fellow. I hope things get sorted out for him, but he’s a very strong character.
“He understands the game and, hopefully, everything will be OK for him.”