The Reds snapped up the 19-year-old from Chelsea after his contract expired at Stamford Bridge.

Liverpool will need to pay a fee set by a tribunal given his age.

But Redknapp, who now manages Championship outfit Birmingham, says the Anfield heavyweights have bagged a bargain.

He told The Sun: "I like the fact they have got Dominic Solanke in for a tribunal fee from Chelsea.

"He’s a real prospect, and at 6ft 1in, a big boy so, while Mo Salah is serious money and is very decent, the youngster can offer a lot.

"I don’t see Jurgen Klopp taking his team to the title although he is an outstanding manager and they will be right up there.

"Liverpool will always be one of my favourite clubs.

"There’s nowhere like Anfield when the Kop is singing.

"There is nothing better in England than hearing that.

"But, in terms of being champions of England, I don’t think they are quite there yet.

"Of course if Jurgen gets them going like he did in the first half of last season… then who knows?"

Liverpool kick off their Prem campaign against Watford on August 12.