Fernando Torres has put a spring in Roy Hodgson's step by pledging his immediate future to Liverpool. Speculation that the Spain striker would leave Anfield this summer has swirled around for months, but instead of heading for Manchester City or Chelsea it seems Torres intends staying on Merseyside for a while longer.

"Fernando Torres has told us he wants to come back," Liverpool's manager said yesterday. "He's told us he's looking forward to Monday and getting back to work and playing for us next season. That's what we know and as far as I'm concerned, all others reports are erroneous."

Torres was given an extended break after his involvement in Spain's World Cup win but he has held private talks with Hodgson and clearly likes what he is hearing. "He's having a well-deserved break with his family," Hodgson said. "He's keeping a low profile and not really talking to anyone, but he has spoken to us."

The tone of the Liverpool manager's conversations with Javier Mascherano appears to have been somewhat frostier, however. Hodgson – who also introduced his three new signings, Joe Cole, Milan Jovanovic and Danny Wilson, ahead of this morning's departure for Macedonia and the Europa League qualifier against FW Rabotnicki – has reminded the Argentina midfielder that he will leave Anfield on Liverpool's terms alone.

Moreover, he hinted Mascherano, who has two years remaining on his contract, may yet be thwarted in his desire for a swift escape, ideally for him involving a reunion with Rafael Benítez at Internazionale.

"He wants to leave, he's made that particularly clear," Hodgson said. "He wanted to leave a year ago and he wants to leave now. But Javier Mascherano is contracted here and I will continue to treat him as a Liverpool player until this club decides that should change.

"Just because Mascherano is a bit unhappy does not necessarily mean he will leave. I expect him to honour his contract until the day this club accepts an offer for him. I'm a bit disappointed but whether he leaves or not is our decision. The mere fact that a player is a bit unhappy does not mean he can just go."

Hodgson, meanwhile, has made a move for the Aston Villa full-back Luke Young. The Liverpool manager tried to sign Young earlier this year when he was in charge of Fulham and he has rekindled his interest in the former England international. Liverpool have agreed a £2.5m fee for a player who has been told he is surplus to requirements at Villa Park.

Although Hodgson's pursuit of Young might raise a few eyebrows among Liverpool supporters, the 31-year-old is able to operate in both full-back positions and was asked to represent England as recently as last November, when Fabio Capello failed to persuade the defender to reverse the decision he made earlier that year to retire from international football.

Cole intends to avoid the sort of culture shock Mascherano is said to have suffered on Merseyside by immersing himself in all things Liverpool while trying to help restore the club to former glories.

At one point yesterday the former Chelsea midfielder got so enthused about the prospect of chasing the title that Hodgson had to remind him: "Rome wasn't built in a day – we finished seventh last season."

Undeterred, the England midfielder added: "It's a long time since we won the title; you talk to everyone in the street and that's what they want. The main thing is to win the title but we'll keep building and take it slow. It's something fresh and new here, a new chapter and I'm very excited."

So far he seems to be anything but homesick for London. "People keep thanking me for coming," Cole said. "But I'm thankful to be here. It's a cracking place. My message to the fans is I will give everything all the time, every day. I don't want to come up here and end up going back south every day off. I want to immerse myself in the place."

After last year's struggles to win a place in Carlo Ancelotti's starting XI following his recovery from a serious knee injury, Cole is also relishing the prospect of being a regular on Hodgson's team-sheet. "I want to play every week," he said. "I want to be part of a successful team – and I know what it takes to win titles.

"Last year was tough. I was trying to get my match fitness back and prove I should be starting. Maybe I was trying too hard, but it just wasn't happening."