The Sunday Mirror says New England Sports Ventures were unimpressed with Hodgsonâs dealings in the transfer market in the summer.
Wing wizard Joe Cole was brought in on a free transfer from champions Chelsea, but on wages of Â£120,000-a-week, while Milan Jovanovic was also recruited as a free agent. Another Â£20million was spent on Raul Meireles, Christian Poulsen and Paul Konchesky.
At 27, Meireles is the youngest of Liverpoolâs new boys.
That prompted Henry to appoint Damien Comolli as director of football this week without Hodgsonâs knowledge.
Hodgson said ahead of this afternoonâs big game with Chelsea: âI wasnât involved in the appointment because that would defeat the object of it.
âThe object for them is to put a team together that they want, not for me to populate the club with my friends.â
Comolli will be tasked with identifying and recruiting new players, with Liverpoolâs new owners ready to risk the friction that may cause.