Soccer nomad Hodgson has had 13 jobs since Fergie took over at Old Trafford in 1986.
Hodgson said: "I remember Alex said he had been approached before I went to Inter.
"I'm pretty sure he could have had that job. In the choice between Hodgson and Ferguson, I don't think there would have been too much doubt where the choice would have landed. And I don't think it would have been Hodgson!
"I don't have any envy or jealousy - just total respect and admiration."