The Hammers announced on Tuesday that the Chilean had signed a three-year deal to replace David Moyes, with a salary that makes him the third-highest earner in the Premier League on £10million-a-year.
Pellegrini’s appointment was trumpeted as a sign of ambition by West Ham, with co-owner David Sullivan labelling the newly-appointed manager one of the “world's most respected football coaches”.
His track record before joining West Ham includes four league titles, three in South America and one with Manchester City, whilst Pellegrini also took Real Madrid to a record points total in his season in charge.
However Redknapp believes Pellegrini will struggle to replicate his previous achievements and that West Ham would have been better off looking closer to home rather than luring their new manager from Hebei China Fortune.
“You can’t tell me there’s not some good young managers about in the Championship who’ve done great jobs, who do deserve an opportunity to manage,” Redknapp, who managed West Ham between 1994 and 2001, told the BBC.
“They even had Stuart Pearce at West Ham, who was there with David Moyes, Pearcey could have done the job no problems. No disrespect to Pellegrini but winning a Premier League with that squad he had at Manchester City, there’s every chance you’ve got of winning the Premier League.
“One thing is for sure, if he keeps the squad he’s got he’ll do very well to make the top eight.
“I don’t see it as an exciting appointment, I’ve got to be honest… West Ham’s a fantastic club, but see if they can poach Eddie Howe or Sean Dyche. There’s some great young managers in the country who, if given the opportunity, could do the job, but they don’t get the opportunities.”