Redknapp closing in on Rio deal
Ferdinand has been working for the BBC at the World Cup in Brazil for the past month but Redknapp will resume talks upon his return.
The 35-year-old, who has won six league titles, two League Cups, one Champions League and a Club World Cup, left United after his contract was not renewed at the end of last season.
Redknapp told talkSPORT on Tuesday: "He arrives back today so I am going to meet him and hopefully we can get it sorted.
"He has not been difficult to deal with. He wants to play and he is not expensive.
"He wants to come and play at QPR now so hopefully we can get it done."
"I like Michael," Redknapp said.
"He is a top player and a great lad as well. You would have Michael in your team any day of the week but we haven't made any offers for Michael."