Redknapp to pay £10m for Aiyegbeni
The Nigerian international played under Redknapp at Portsmouth, scoring 36 goals in 81 games at Fratton Park before moving to Middlesbrough in 2005.
The new Lilywhites boss has made no secret of his intention to tempt several of his former charges to North London, with David James, Sylvain Distin, Lassana Diarra and Jermain Defoe the most likely targets.
However, the South Coast club recently declared that they would not be offloading their stars during the winter, meaning Redknapp's attention has wandered to the North West.
Yakubu has been a success at Everton since making the switch from Boro last year. He finished the 2007-08 season with 21 goals in all competitions, and his ownership of the centre-forward slot effectively forced Andrew Johnson out of the club.
Toffees boss, David Moyes would be loath to let the 25-year-old leave. But money is tight at Goodison Park these days, and anything approaching the £11.3 million payed for Yakubu may be good enough.