Spurs' three front men Peter Crouch, Roman Pavlyuchenko and Jermain Defoe have scored only 15 Premier League goals between them this season and Redknapp admitted his side are 'chasing around the world' to find a goal-scorer.
Dan's the man: Osvaldo of Espanyol beats Barcelona's keeper Valdes
Buenos Aires-born Osvaldo, who has dual Argentinian- Italian citizenship, looks better value than the likes of 31-year-old Atletico Madrid and Uruguay striker Diego Forlan. The 25-year-old has won 12 caps for Italy's Under 21s and has been one of the best strikers in Europe this year.
Sportsmail revealed last year that Sam Allardyce had planned an ?8million bid for Osvaldo before being sacked from Blackburn, but Espanyol now want closer to ?12m.
Osvaldo has scored 10 goals in 19 games this season, including one against Barcelona and two past Atletico Madrid's David de Gea.
Firing blanks: Strikers Defoe and Crouch (right) have been off target this season
Redknapp said: 'I'd like to get another frontman, if I can. It's been one of those years.
Normally Defoe would have had 18 goals by now (and) Crouchy hasn't scored many. We're still in it without the frontmen having scored the goals they should have done.
'But strikers are difficult to find. They're big money. We went for (Villarreal's Giuseppe) Rossi last year and he was suddenly ?35m.
'We can't afford Forlan. He's a player who's on about ?120,000-a-week. By the time you pay a transfer fee, you're talking about probably ?28m and there's no return on your money, is there? You can't sell him at the end of it.
'For us to pay that sort of money is frightening.
'We've got lots of players out on loan that we haven't moved, or haven't been able to move, in the last couple of years ... David Bentley at Birmingham, Robbie (Keane) at West Ham, there's (Giovani) dos Santos out in Spain (with Racing Santander), Jamie O'Hara at Wolves.
'We need to trim the squad a bit, to try and get some money in. I'd rather have a smaller squad and bring in maybe one or two top players.'
On his way? Woodgate (right) is set to be released by Tottenham
Jonathan Woodgate will not get a new permanent deal when his ?65,000-a-week contract expires in June. The defender, 31, has played only seven games since May 2009.
Redknapp said: 'Wherever he goes, he's only going to have a pay-as-you-play deal.'
The Spurs boss denied claims his side, who face Chelsea at Stamford Bridge, have given up on achieving fourth place but they are four points behind Manchester City with five games to go, including a trip to Eastlands on May 10.
He admitted: 'It's been hard, our first year in Champions League football. We've had a great run at it but it certainly takes its toll. But the Europa League takes a bigger toll, that's the problem.
'It's one of those competitions that teams get in and they try and get out of.
'It's a million miles away from the Champions League.'
?We can still finish fourth, roars Redknapp as Spurs prepare for must-win Chelsea clashWe'll fight for Champions League return, insists Spurs star HuddlestoneSpurs can derail Chelsea's title bid and keep pressure on City, says DefoeAll the latest Tottenham news, features and opinion ?Explore more:People: David Bentley, Jonathan Woodgate, Roman Pavlyuchenko, Peter Crouch, Harry Redknapp, Sam Allardyce, Jermain Defoe Places: Barcelona, Birmingham, Buenos Aires, Spain, Italy, Europe
Source: Daily Mail
Source: Daily Mail