Hodgson confirmed this week that he intends to take his squad to Portugal for a warm-weather training camp between May 19-23 before returning to London for a farewell friendly versus Peru on the penultimate day of May.
The problem for Hodgson is that the Champions League final takes on May 24 so he concedes he will have to take a reduced number to the camp if any of his players are needed for the European showdown in Lisbon.
"In many ways I would be happy if an English team got to the final," the England manager said.
"All it would mean is that they would join with us later."
Taking part in the Champions League final would be a drain on the English players of the four potential Premier League finalists.
But Hodgson says those involved will have little opportunity to take time off following the match as England host Peru on May 30 before taking on Ecuador and Honduras in Miami.
"We would have to try and find some way of rewarding them with a couple of days off here and there," Hodgson said.
"But what they would have to accept is that they won't get the full week off.
"They may have to accept their holiday period is compromised this year but to be honest, most would accept it."
England fly to Miami directly after the game against Peru and they will face Honduras and Ecuador in the United States on June 4 and 7 respectively.
Hodgson must name his final 23-man World Cup on June 2 - 10 days before the tournament begins.