"Steven is a Fulham player," said Hodgson. "I know Rangers are interested in buying him and they have made bids which, so far, we have not found acceptable. He will only leave if a club matches our valuation.
"I like Steven and get on well with him. But we were in a position last season where we were able to make him available for loan. It was no surprise to me that he did so well for Rangers and they want him back.
"Every player has his price but, as far as we are concerned, Steven is still part of our squad and he will be welcomed back here.
"We have signed one new midfield player but also lost a couple, so we are not trying to rush him out of the door."