Mourinho and Redknapp will face each other in Tuesday's Champions League quarter-final first leg at the Bernabeu.
At the heart of Spurs' quest for a place in the last four will be Bale, who is thought to be winning his race for fitness after a recent hamstring injury.?
Bale bombshell: European giants on alert as star admits he could be tempted by move abroad
Makinghis name: Bale (right) has lit up Europe this year with some sensational performances, notably in running ragged last year's Champions League winners Inter Milan in their two group games
The Welshman signed a lucrative new contract last month but has admitted that he would one day be willing to leave White Hart Lane if a big offer came his way.
Despite signing a new deal, a bidding war could commence for the 21-year-old this summer, with Manchester United, Barcelona and Inter Milan all thought to be keen on securing the his services.
All smiles: Jose Mourinho was in relaxed mood ahead of the Champions League quarter-final
Jose's favourite: Harry Redknapp
But Mourinho, who spotted Bale's talent while he was in charge at Chelsea, denied that Real would be out to signthe player this summer.
'I was one of the first to say he will be an amazing player. I was saying that when he was not known in European football, just in England, so I know the great player he is,' the Portuguese said.
'He is still young and there is a big space for him to improve so he will be a really top, top, top player. I have no doubt about that.
'Tottenham is not a good club to sell though. It is a club that buys.
'I think for the amount of money involved, it is not easy to buy and we have players for that position. We have Cristiano (Ronaldo) who plays in the same position he plays, and Marcelo at left-back.
'When you want to spend big money you do it in areas where you have problems, but I have no doubt he (Bale) is a very good boy.'
Bale had admitted that he could be willing to try his hand at playing abroad further down the line, with the former Southampton player telling Spanish daily AS: 'You never know, but I'm not afraid to leave the country.
'If a great opportunity arises you need to seriously consider it. I left home at 15. If I leave the PremierLeague, I'll learn another language, I'll know other people, another country, I will grow as a person.'
Redknapp has earned many plaudits this season for the attacking style he has employed at Tottenham and the way it has helped his team through the competition, seeing off Inter Milan and AC Milan along the way.
Pulling power: Bale is tempted by playing in La Liga with the likes of Messi (left) and Ronaldo (right)
Redknapp is favourite to take over from Fabio Capello when he steps down as Three Lions boss next summer, and Mourinho thinks the former Portsmouth manager would do a great job in succeeding the Italian.
'He is a good manager for any team, including a national team,' said Mourinho, who is looking to secure his third Champions League trophy. 'I think there is no limits for him. Give him a team, a national team and he is ready for anything.'
Tottenham were embroiled in a relegation battle when Redknapp took over two and a half years ago, but his impressive stewardship has earned him the utmost admiration from his opposite number for Tuesday's showdown.
'He is my friend, and friends are always nice to each other,' Mourinho added. 'I say nice things about him and he does me. That's life.
'When I was in England he was not managing teams with possibility of reaching these kind of ambitions. Finally after the good work he was doing, he went to Tottenham, who had the resources to build a good team. I'm very, very happy (for him). I hope, and I say this from my heart, that if I don't reach the final, then I hope he does it.'
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?Explore more:People: Fabio Capello, Harry Redknapp, Gareth Bale, Jose Mourinho Places: Madrid, Barcelona, United Kingdom, Europe
Source: Daily Mail
Source: Daily Mail