Hodgson has admitted Torres could leave Liverpool if the offer is right.
The 62-year-old told The Sun: “The important thing for Fernando and for us is that we have a good season — he as a player, us as a club and me as a manager.
“Who knows what this season will bring? We could have a fantastic season and the players will not want to go anywhere, or we could have a worse one and there will be more speculation.
“It could be he does so fantastically well an offer comes in like the £80million offer Manchester United had for Cristiano Ronaldo, which is impossible to turn down.
“But we will take that problem when and if it arises. The important thing is it hasn’t arisen this summer because he is going to be playing for us.
“He is committed to playing for us and he is going to honour his contract and it is good for me he has made it clear he likes the club and the fans.
“It is nice now the speculation can finally end once and for all after Fernando made it clear how absolutely committed he is.”
