Chelsea had the offer for the Croatian playmaker rejected on Wednesday night. Redknapp is keen to hold on to the 25-year-old, who enjoyed a superb season at the heart of the Spurs midfield last year.
The 64-year-old recently described Modric as 'irreplaceable' in the wake of reported interest from the Blues and today hit out at the Londoners' offer.?
'Luka is not for sale,' Redknapp told the BBC.
Race is on: Chelsea, Manchester City and United are chasing Luka Modric
Modric may have scored just four goals last season, but his tireless performances and creativity make himan obvious target for any top team looking to improve their midfield.?
Earlier this month Modric told a Croatian newspaper that he was happy at Spurs but would beopen to a move if the club altered their stance and chose to sell him. ?
'If an offer comes which is good for Tottenham and for me also, then a transfer is possible,' said Modric, who signed a new contract last year. ?
Champions League experience: Modric featured heavily as Spurs reached the quarter-finals in their first season in the competition
Redknapp reacted angrily to suggestions Modric could leave by insisting that the club's progression depended on retaining the services of players like him and star winger Gareth Bale.
The move from within Stamford Bridge comes days after Sportsmail revealed Manchester City are ready to make an offer for the player who is also high on Manchester United's shoppinglist.
But Chelsea have made the first movein what is sure to develop into a bidding war between the three richestclubs in the Barclays Premier League.
In fine fettle: Modric was one the most consistent performers of the last Premier League season
The formal approach - which came late on Wednesday afternoon - was rejected out of hand by Spurs chairman Daniel Levy. He wants to keep Modric and has publicly insisted, along with Redknapp, that there is no desire to sell any of the club's best players this summer.
Roman Abramovich has yet to appoint his new manager but the Chelsea owner sees Modric as an important part of his rebuilding programme at Stamford Bridge.
Heis hoping to exploit the fact that the Croatian's current contract - which runs until 2016 - is worth a relatively modest ?40,000 a week by offering him a significant pay increase where a number of senior playerscommand salaries in excess of ?100,000 a week.
Midfield battle: The signing of Modric would put pressure on the likes of Frank Lampard (left)
It is clearly an opening offer. It is just ?6million more than Liverpool and Manchester United have just paid for Jordan Henderson and Phil Jones and few would argue that 25-year-old Modric is worth considerably more than two emerging English talents. Modric could slot straight into Chelsea's midfield, immediatelyputting pressure on players like Frank Lampard and Michael Essien.
For that reason, Chelsea are expected to increase their offer to more than ?30million and so force Levy to give it serious consideration in the knowledge that a deal that brings Scott Parker from West Ham to White Hart Lane could soon be close.
Pricey: Jordan Henderson recently cost Liverpool ?16m - the same amount Spurs paid for Modric in 2008
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?Explore more:People: Michael Essien, Daniel Levy, Harry Redknapp, Roman Abramovich, Frank Lampard Places: Liverpool, London
Source: Daily Mail
Source: Daily Mail