Arsenal boss Arsene Wenger revealed on Thursday that he was interested in signing the Norway international.
Hodgson said on Sky Sports News: “When a bigger club is interested or connected with one of your players, of course it is a source of worry because Brede is a very important person for us.
“I sometimes have admitted to being interested or admiring certain players, but that doesn’t necessarily mean you are always going to go and sign them.
“Because to sign the player would first require the club taking contact with us and then making certain everyone was happy with any deal that could be struck.
“I think we have got a long way to go before that happen.”
