Now, we all know what 'Arry is like and he may just be pleading poverty so that other clubs won't push the prices of his targets too high. After all, the names we have been linked with would suggest we have money to burn so it only seems sensible that our gaffer should douse those flames.
But let's just assume that Harry isn't lying and we do indeed have to sell to buy. Our squad isn't the biggest yet it contains plenty of valuable assets. So will Pompey be tempted to cash in on some of our diamonds or can we scrape together enough cash from the sales of the fringe players who might want to leave?
Here's my take on the current status of the squad and what sale bracket they come under:
Definitely Staying
David James: He's the best 'keeper in the world according to Harry and with him recently signing a new deal there is no chance of him leaving.
Glen Johnson: Harry loves Glen and after a great season just gone it would take a ridiculously high offer to even tempt Pompey to sell him. I'm 100% certain he'll be staying.
Sylvain Distin: Is happy enough at Pompey and after such a stellar showing last campaign it would be almost suicidal to sell a top performer who is now in his 30's and therefore won't command a massive fee.
Linvoy Primus: Signed a new contract and doesn't have any real market value, yet could still be a priceless asset to Pompey.
Hermann Hreidarsson: At 34 he won't be of much market value either but we need all the cover we can get at left back.
Papa Bouba Diop: Fans don't rate him but Harry does and that's the most important thing. I don't think we'd get too much if we sold the 31-year-old so I can't see him leaving this summer.
Jermain Defoe: After the lengths Harry went to finally sign his most coveted striker, there is absolutely no chance that he will be willing to let him go and why would Defoe leave now he is playing regularly?
Definitely Leaving
Djimi Traore: Isn't good enough for us anymore and will probably head back to France for a small fee, which, as Harry says; "won't buy you Shaun Wright-Phillips".
Richard Duffy: After years of failing to get anywhere near the first team you'd think it was time for Duffy to move on.
Franck Songo'o: Out of contract and looks like he'll be playing his football elsewhere.
Undecided
Sol Campbell: The Pompey captain has desires to move abroad before he retires. If we need the money, maybe Sol will be sold before he leaves on a free next season. If Kaboul comes in, then maybe Campbell will go although I'd bank on him staying.
John Utaka: The Nigerian may have had a poor season but it is clear that he has the talent to be a hit and therefore is still of significant value. If SWP does arrive then perhaps it will be Utaka that is sold to balance the books, if SWP doesn't arrive then I see no reason for the winger/striker to leave and hopefully we will see a more consistent player this season.
The Fringe Players
Noe Pamarot: I'd like us to keep Noe for his solidarity and versatility but he needs regular football and may not get it at Pompey. If the offer is high enough, I think he'll be allowed to leave.
Lauren: If Johnson stays fit then Lauren won't see the first team unless dire circumstances permit. Therefore he will probably think about leaving and although he won't command a high fee, Pompey may want to offload him from the already steep wage bill.
Sean Davis: It would be a shame to see Sean leave but I think it will happen with a good number of Premier League clubs supposedly interested in him. He's worth around £4 million which would make a significant contribution to any future signings so I believe Pompey will cash in on a wantaway player we can afford to lose.
Pedro Mendes: The likelihood of Pedro leaving decreased when he was given a starting role in the FA Cup Final and we will need his creativity for the coming season. However, teams are supposedly interested and if Pedro feels another season of personal frustration is on the way then he may wish to leave (for the right price).
Richard Hughes: The competition for central midfield spots has really heated up and as such, Hughes hasn't been able to get much of a look in and has already admitted on more than one occasion that he might move on. I doubt he'd command much of a fee so it may be better to keep him on for the sake of squad size, but I doubt he'll want to sit on the bench for the rest of his career.
Arnold Mvuemba: Arnie is a useful squad player that may get better over time but only if he plays more often. With Redknapp wanting to reinforce the wingers it suggests that Mvuemba won't see much playing time regardless of the extra games we will play. Saying that, is it really worth selling him for the low fee we'd receive for him?
David Nugent: From my point of view, Nuge stands to be fifth choice striker at Pompey should Kanu sign. It's going to be very difficult for him to fight his way into the team despite his wishes to stay. I think that Harry may be forced to cut his losses if a buyer can be found but I doubt he'll be sold for more than £3 million.
So even if we sold all of our fringe players (which certainly isn't going to happen) we'd only be looking at around £16 million for all of them.
If we presume that Davis, Hughes and Nugent left then that would give us around £7 million which still isn't enough to buy "SWP", meaning we might have to look at sell one of our prized assets.
The Prized Assets
Niko Kranjcar: A bid of £12 million from AS Monaco has been rejected by Pompey which means that the club rate him extremely highly.
Redknapp says he doesn't want to get rid of him but he said the same thing about Benjani until Defoe became available on the last day of the January sales. Would Harry be tempted again if a bigger offer came in and he was certain to land SWP?
Sulley Muntari: Rumours of £12 million bids have been rife regarding the Ghanian and I wonder if Pompey would think about cashing in. I don't think he's irreplaceable and he hasn't lived up to his potential yet.
Lassana Diarra: The Frenchman has made no secret of using the club as a stepping stone and despite claiming he will stay I can't help but think if a massive club came in with an offer of over £15 million then Pompey may sell. Not that I want him to leave as a player of his calibre is rarely seen at Fratton Park and he'll only get better.
If we did sell one of those players it may generate the funds to sign other top quality players but it would severely weaken us in the process. I believe we must keep Kranjcar and Diarra at the club as those two players will be extremely hard to replace.
Muntari is a loss I think we could cope with but even then we'd need to bring in a replacement (unless Davis is kept). Sulley may have settled in now and we may see the best of him.
I predict that if we see the big name arrivals at Fratton Park then Davis, Nugent, Hughes, Lauren and maybe Utaka will be sacrificed. If the squad players are kept on then it could be either Kranjcar, Muntari or Diarra who is sold to raise the money.
It will certainly be interesting to see who is up for the Redknapp firing line this summer.