Fulham have begin talks with key defender Brede Hangeland.
The Norwegian has impressed in his time at Craven Cottage and the club are keen to secure the services of the 27-year old.
Rival clubs are said to be interested in Hangeland but Hodgson is determined to keep him at Fulham.
"We have had plans for a while to talk to him - a) about an extension and b) about improving his contract. That's in hand," Hodgson said.
If the player does happen to leave the club, Hodgson said they would do the best they could if that situation arose.
"If it happens, it happens and we will deal with it the best we can but in the meantime Brede and other players who might interest other clubs are still here and we will do our best to keep them," he said.