Hodgson is hoping that Sunday's win over Blackburn Rovers can act as a springboard for an resurgence, with his position at Anfield now under serious threat just three months into the job following the club's worst start to a domestic campaign since 1953.
Pellegrini is hopeful of returning to management by the end of the year after being dismissed by Real in May and would prefer a move to the Premier League, citing the Reds' Spanish contingent as a key motivation if he did succeed Hodgson.
He said: "Yes, Liverpool contacted me.
"It is a great club with many Spanish players who I already know, and it is my intention to work in the Premier League.
"I had lots of offers, some that I like. Ideally, I would like to find a club in December."
This brought a HUGE smile on my face when I read this. PLEASE BE TRUE PLZ PLZ TY.