At first glance, both seem as likely to take advantage of free agency as Quentin Tarantino is to make a 'chick flick'.
Both are among their clubs' most highly decorated and revered servants, and have long been paid accordingly.
But both have shown signs of wear and tear that have limited their recent on-field impact – especially Cooney's.
So how will Hawthorn and the Bulldogs approach their respective negotiations with Hodge, 28, and Cooney, 27, this year? Will they consider asking them to accept pay cuts or shorter-term contracts?
AFL.com.au spoke to two retired greats whose experiences in the pre-free-agency era might provide some answers.
Port Adelaide premiership captain Warren Tredrea and former Melbourne skipper Garry Lyon both came out of contract late in their careers after injury-plagued runs.
Tredrea said he agreed to a 20-25 per cent base salary cut at the end of 2007 after accepting ongoing knee problems meant that, at 28, he was no longer "the marquee centre half-forward" Port had paid so well previously.
Similarly, Lyon said chronic back problems during 1996-97 meant the last two or three contracts he signed with the Demons were "pretty heavily" performance-based and for one-year terms only.
Tredrea and Lyon said the Power and Melbourne had approached their respective negotiations transparently, and made offers that realistically reflected where they were at in their careers.
Both expect Hawthorn and the Bulldogs to do the same with Hodge and Cooney.
Tredrea said both clubs will probably not begin their respective negotiations until midway through this season, so they can see what Hodge and Cooney produce in 2013.
Both Tredrea and Lyon agreed that in Hodge's case a strong first half of 2013 could mean he is offered a salary that rivals his current one.
"I don't think [the Hawks] would have an issue in the world with paying Luke the sort of money that he deserves if he's playing and playing well," Lyon said.
"They'd be delighted to be writing out a full-tote-odds cheque, if you like, because that would mean he's playing well."
Knee problems limited Hodge to just 10 games last season, many of which were below his previous high standards. He has since endured a restricted pre-season after undergoing posterior cruciate ligament surgery, but Hawks coach Alastair Clarkson said last week he was confident Hodge would be back playing by round one, albeit perhaps in the VFL.
The Hawks' hopes that Hodge can return to full fitness would be bolstered knowing he missed just four games in 2010-11 and 13 from 2005-11, two through suspension. Last year was also the first season Hodge had finished outside the top 10 in the Hawks' best and fairest since 2003, his second AFL season.
Cooney's knees, on the other hand, might be more of a concern for the Bulldogs.
His knee problems first began in the 2008 finals series when he suffered a cracked right patella, which subsequently degenerated to the extent he played just 13 games in 2011 and 14 last season.
Even when Cooney has taken the field recently, his limited ability to train has meant he's been unable to play a regular midfield role, while he has not finished better than seventh in the Bulldogs' best and fairest since his runner-up finish in his 2008 Brownlow Medal year.
But since Cooney had cutting-edge treatment on his knee in Germany last October, the Bulldogs say he is moving as well as he has in three or four years.
But regardless of how well Cooney performs this season,
Tredrea will be surprised if the Bulldogs offer to match his current base salary.
"They say he's fit and he's had revolutionary knee treatment and he may be back to the same person," Tredrea said.
"But realistically since he won the Brownlow Medal he's had some big games, but he hasn't consistently been able to put that output up simply because of injury.
"And you can't have him, I assume, as still the Western Bulldogs' highest-paid player and not performing to the level they expect from their highest-paid player.
"There's also the issue of the term of the contract.
There's a lot of risk with long-term contracts, especially with players who haven't performed for a period of time or who have been injured."
Of course, Hodge and Cooney offer their clubs more than just on-field performance.
Hodge, in particular, enjoys an exalted status at Hawthorn. He has been captain since 2011, but the team's rallying force for much longer.
His rare courage was exemplified in the 2008 finals series when he channelled the never-say-die spirit of Monty Python's Black Knight, defying mere 'flesh wounds' such as cracked ribs and a hyperextended knee to lead the Hawks to an upset Grand Final win over Geelong.
No other AFL player stands out as a better role model for impressionable young teammates.
Both Hodge and Cooney are also invaluable marketing tools for their clubs, Cooney in a young Bulldogs team that doesn't boast the array of star power at Hawthorn.
That star power means Hawthorn list manager Graham Wright will earn his money this year. In addition to Hodge, Lance Franklin and former skipper Sam Mitchell are also free agents at the end of this season, along with Max Bailey, Xavier Ellis and Michael Osborne.
Franklin's manager, Liam Pickering, has said his client is yet to receive offers from opposition clubs, but that will almost certainly change if he sticks to his guns and delays further contract talks with Hawthorn until the end of the season.
Tredrea said Franklin is a "once—in-a-generation player" who should be the Hawks' priority re-signing, but asked where they will find the money to fund his likely salary increase.
It is unlikely to come from any saving on Mitchell, who can hardly be asked to take a pay cut after winning three of the Hawks' past four best and fairests (2009, 2011 and 2012) and finishing third in 2010.
But if Hodge's knee problems persist – and Hawthorn can't create salary cap room elsewhere – he could be asked to take a hit on his base salary.
Even if that happens, and even if Cooney is asked to take a pay cut by the Bulldogs, Tredrea and Lyon still believe both are unlikely to declare themselves free agents.
"You've always got to treat your older players who have been good servants with a great degree of dignity," Lyon said.
"But as long as the club and player are on the same page, players at that stage of their careers are generally willing to take less to stay.
"The vast majority of players are of that mindset, particularly if they are in a successful environment like Hawthorn at the moment."
Nick Bowen is a reporter with AFL.com.au. Follow him on Twitter: @AFL_Nick
