Hodgson, 62, has emerged as a leading candidate to take charge of the team in three years' time.

Lord Triesman, the independent chairman of the Football Association, confirmed before the weekend that he was looking for an English coach to take charge of the Olympic team.

Sir Alex Ferguson was originally earmarked for the role when it was hoped that all four home nations would contribute to an all-British team.

But, with the Scotland, Wales and Northern Ireland FA's making it clear they would not participate on political grounds, the stage is set for an all-English team to compete under the Great Britain banner.

Hodgson said: "This is news to me. I've been a major contender to be England manager as well and I've never had the job.

"If you want to know has there been any contact from anyone regarding the Olympic team, then the answer is 'no'.

"It is a long way off, 2012, but whoever gets that job, it is going to be a great honour for them.

"If it ever came about that people thought I would be the right man for the job, of course I would be happy to take it.

"There is a lot of time between now and 2012 and I know nothing about it apart from what I'm learning from you guys now."

Triesman admitted he would be "very disappointed" if a coach for the Olympic team has not been appointed by the end of 2009.

He believes a coach needs sufficient time to identify the players who will make up his squad and give him the chance to work and develop them into a team.