It's understood the Knights' deal is around $30,000 short of where it needs to be to secure Hodkinson's signature, leaving the Titans in the box seat for now.
The Blues playmaker is publicly declaring the Bulldogs are still in the race but Canterbury coach Des Hasler sees Moses Mbye and Josh Reynolds as his long-term scrum-base combination.
"I've got a couple of options out there and the Dogs trying to squeeze under the salary cap," Hodkinson said from the Blues' Coffs Harbour camp on Wednesday.
"It's not a distraction. It’s been going on for a while now so I put it behind me and just try to play some good footy.
"State of Origin comes first and then I'm keen to get it sorted as soon as I can."
Here's how the Hodkinson scenario presently sits:
The Case For: They have some exciting young backs and are in need of a new leader with Kurt Gidley departing. It also keeps Hodkinson relatively close to his hometown of Sydney. They money is pretty good.
The Case Against: The Knights are struggling big time and coach Rick Stone is under pressure and on the nose with some in the Hunter. There doesn’t appear to be a premiership window looming anytime soon. With an ageing forward pack and no recognised half or fullback, it will be a hard slog.
The Case For: The Titans have the deepest pockets so Hodkinson's bank account would be a lot healthier if he were to head to the Glitter Strip instead of the Knights. Kane Elgey is a half on the rise and Hodkinson would prove the ideal mentor and calming influence. The Titans appear better finals prospects than Newcastle, although it's hard to see them challenging for the title during his stay.
The Case Against: It is the Gold Coast Titans, a place where controversy never seems to be too far away. Hodkinson is a cleanskin who doesn’t need to be associated with drama. Careers can die there.
The Case For: It's the club where Hodkinson is most comfortable and has played his best football at. He would prefer to stay but the decision is out of his hands. Des Hasler has decided the No.7 is surplus to needs.
The Case Against: Even if the Dogs were to put some sort of offer to him, what's the point in staying when you know you're No.3 in the pecking order?