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Capello sensationally quit the England national team on Wednesday, just four months before the start of Euro 2012. Capello entered showdown talks with his bosses after the Football Association stripped John Terry of the captaincy, and the Italian has ultimately walked away from the post. Now, just hours after being cleared of tax evasion, Spurs boss Redknapp has been made the 2/5 favourite at Paddy Power to take the job on a permanent basis.

A familiar face at the head of the betting is Real Madrid coach Jose Mourinho. The Portuguese has made no secret of his passion for English football since departing Chelsea several years ago, and the former Inter Milan and FC Porto boss is 16/1 with bet365 to make a return by taking the biggest job the country has to offer.

Many fans are hoping the Football Association opt for an Englishman after Capello failed to endear himself to supporters, and both West Brom boss Roy Hodgson and Newcastle United manager Alan Pardew can be backed at 16/1 with bet365. England under 21 boss Stuart Pearce is 20/1 with BetVictor to make the step up to manage the senior team.

In terms of England winning the European Championships, StanJames are now offering 10/1 on the Three Lions leaving Poland and Ukraine with the trophy.