The 64-year-old - tipped as a future England boss - dodged taxes on "substantial payments" while he was in charge at Portsmouth, a jury heard.
Appearing in the dock, Redknapp stood accused of receiving two untaxed payments of more than ?189,000 from former chairman Milan Mandaric, his co-accused.
John Black QC opened the Crown's case at Southwark Crown Court by telling jurors "both parties must have known" they were avoiding taxes.
"These payments were a bung or offshore bonus that the parties had absolutely no intention of paying taxes for,'' he said.
Source: PA
Source: PA