Apart from Tottenham, where Levy kept him on a very short leash, Redknapp has a history of leaving clubs in a bigger mess than when he joined them, with the sort of financial headaches that saw Woolworths disappear from the High Street. Bournemouth, Southampton, Portsmouth, West Ham - they all went bust or were close to going bust after Redknapp's wheeler dealing antics.
And he's up to his old tricks again. How much did he spend guiding QPR to relegation last season? And how much is he now spending in his bid to get them back up again?
Of course, Sparkless Hughes has to take his share of the blame for QPR going down, but Redknapp had more than enough time to save them, and was given huge financial backing from Fernandes. But the Hula Hoops went down with a whimper regardless, maintaining relegation form throughout 'Arry's time at the club.
And Fernandes still seems blind to what is going on. The latest move for Parker is so, so typical of 'Arry and of QPR's folly under the misguided Malaysian owner. The guy was never brilliant and is clearly on a downward slide. Injuries have blighted his career, and there are many who believe that the last one took its toll permanently. And anyway, Parker, even at his best, would not transform a team like QPR in the Championship.
Yes the guy runs around a lot and yes he gives you 100% in terms of effort, but he doesn't hurt the opposition and rarely, if ever, changes the course of a game. To gauge his effectiveness, just look where West Ham finished in what most would concur was Parker's best ever season - rock bottom! Great!
God knows how much QPR will be paying him in wages and you have to wonder what will happen if promotion is not achieved and Financial Fair Play cuts in. And if QPR do win promotion, what use will Parker be in the Prem? If he was good enough still, QPR wouldn't stand a chance of signing him whilst in the Championship. So why has he been offered a three and a half year contract?
The answer to that is simple. Parker's agent negotiated a crazy 5 year deal with West Ham, which secured him a 4 year contract at Spurs, which now has shrunk down to three years, with a half year bonus to compensate for giving up on his World Cup dream. Can anybody see Parker playing in his all effort style when he is 36? No chance!
So, in 12 months time QPR will be paying a fortune to a shot Parker and will have a host of disaffected players returning to the club after their loan deals have expired. If still in the Championship, QPR will be severely penalised under the FFP rules; and if in the Prem will have a squad that has already been shown to be inadequate. It doesn't bode well, does it?
But 'Arry won't care - he will walk away considerably wealthier than when he joined.