The Sky Sports pundit was discussing Newcastle alongside a former team-mate.
Indeed, the pundit says he 'certainly upset' the balance of the Magpies side during their failed title challenge.
Carragher said while analysing their infamous 4-3 defeat to Liverpool: "The main reason Keegan bought him was as cover for Les Ferdinand. You can understand it - but he certainly upset the balance of the team."
But Jamie Redknapp countered on Monday Night Football: "As a manager, you have to take that risk sometimes. I think it would be unfair to say his signing was the reason Newcastle didn’t win the league that year."
As heartbreaking as the failed title run was for Newcastle fans, though, they would clearly rather be in that position than fighting relegation like they are now - anyone would.
Next up for the current Magpies side is a trip to Southampton on Saturday afternoon - and it won't be an easy task for them.
Newcastle lost 3-2 at Norwich City last time out but the Saints are a side in form. They were unlucky to lose against Premier League leaders Leicester City.
Most of all, though, they were very solid at the back - and wins are all Newcastle need now, not draws. That leaves them in a very tricky position.