With Aston Villa doomed, it seems that Norwich, Sunderland and Newcastle are the three sides in trouble.
Only one of the trio is likely to be able to retain their Premier League status, but Redknapp does not think the relegation will be a disaster for any of them.
The former Tottenham Hotspur boss says that Norwich, Sunderland and Newcastle are all well set up to bounce straight back if they do go down.
"I think whichever two of Norwich, Sunderland or Newcastle join them in the Championship will have a very good chance of promotion," he said.
"It’s far too tight to call down at the bottom, but they all have the makings of squads that can compete if they do go down. They’re all big clubs too, but no-one has a divine right to stay in the Premier League."
At the moment Norwich are the best placed of the trio, as they sit four points clear of the drop zone.
Sunderland are the team closest to them - and Sam Allardyce’s men are due travel to Carrow Road on Saturday, for what will be a huge match for both sides.
Newcastle are currently six points adrift of safety, and unless they can break out of their winless run quickly - they are set to face the drop.