Mandaric told the Daily Mail: “We have spent at least £3m (€4.3m) on agents’ fees in the past couple of years. I know Manchester United are spending a lot more money on some heavy-duty players, but this is Portsmouth we are talking about.”

Mandaric has also spoken of how he became aware that Redknapp was beginning to feel the strain of life in the Premiership before this week quitting Portsmouth.

“He told me the job was getting to him and that I only had to look on the television to see the pressure he was under,” said Mandaric.

“Harry said he could handle it when he was younger, but now he was much more nervous about everything. He indicated on more than one occasion he might leave, but I never took him seriously.”

Mandaric admits he will be surprised, and disappointed, if Redknapp makes a quick return to football management.

“He told me wanted to spend more time with his wife and their family, and I have to accept he’s telling the truth,” added Mandaric.

“If he ends up at Wolves or Southampton, I would be very disappointed with him, but right now I believe he needs some rest.”