"It's disappointing to lose Jimmy. We said all along that we'd like to keep all of our players but the possibility of Jimmy leaving has been there all the time.
"He's been seeking the type of contract we couldn't give him," Hodgson has said.
"I congratulate Hull and Jimmy on getting the contract he wanted.
"It wasn't just wage demands prompting Jimmy to go, but the length of contract too.
"He's 31 this year and we didn't feel able to provide him with the contract he wanted. The transfer fee that has been negotiated is suitable for a player of his age.
"I don't think Jimmy owed us anything. I thank him for the year of work he did under me."