Redknapp saw his odds shorten further on Sunday when Football Association general secretary Alex Horne revealed the Tottenham boss would be on a "not very long" list for the position when it becomes vacant.
That is set to happen in a year and a half at the latest, when Capello's contract expires.
The Italian's incredible success in club football has failed to spare him the flak that comes with being England manager when results have gone awry.
But Redknapp insists that as long as the pros of being a national team boss outweigh the cons, it is worth it. "Do I need the aggravation?" he said. "It's aggravation managing Tottenham, isn't it? It's what you get with the job.
"You either enjoy it and get on with it or you turn it in and walk the dogs and play golf. That's my choice, isn't it? And while I enjoy it, you keep going."
Source: PA
Source: PA