And he will DROP his opposition to it - even though he still believes it gives teams like Liverpool and Manchester City an unfair advantage.
The Crystal Palace boss was one of 11 managers to vote against the proposal but after Wednesday's follow-up meeting he now believes it will get the 14 votes it needs.
Hodgson said: “They need another few votes. I think there’s a good chance they could do that.
“Like myself, one or two of the other people who previously voted against were swayed by the impassioned arguments from the top clubs.
“There’s no doubt it helps bigger teams. But they are adamant that this will help reduce the risk of injury and will even positively affect the mental wellbeing of players.
“Once you bring player welfare into it, it’s very hard to argue against it. Though I must say I’m not convinced it’s more subs and not less games that’s going to make the difference.
“People like myself, David Moyes and Scott Parker said that if five subs keeps everyone happy, far be it for us to take a stand against it.
“If it goes to another vote and the chairman asks me, I'd be happy enough to say that if it’s what everybody wants then go along with it.
“I don't want to be the one manning the barricades with a flag saying this is all wrong.”