I don't think Redknapp would go there in a million years. Everything to lose and nothing to gain, not the sort of thing he is looking for I suspect....
I don't think you could be more wrong, tbh.
From Redknapp's point of view, its utterly perfect. He'll get a huge salary, with the carrot of a massive bonus if they stay up. If he does it he'll claim he's performed 'a miracle'. If they go down it will all be Hughes' fault.