Liverpool and Manchester City both have lofty ambitions but as the Merseysiders labour under weighty debts, the contrast in the resources available to Hodgson and opposite number Roberto Mancini is marked.
But Hodgson said: "People ask if I am envious but when you have got people like (Steven) Gerrard, (Javier) Mascherano and Torres, to name but three, it would be very foolish to get envious.
"I am quite philosophical about these things and we will be ready to play the game."
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