Italian Fabio Capello, 61, will be crowned the wealthiest coach in international football when he pens a £6.5million-a-year contract to be the next England boss.

England are 9/1 to win the 2010 World Cup.

The news comes after the English Football Association board ratified an agreement that will see Capello earn £4million a year (after tax).

Adrian Bevington, the FA¨s director of communications commented: "Talks have continued throughout Thursday between the FA and Fabio Capello's advisors. The FA board has also approved Capello's appointment as England manager subject to the successful conclusion of these contract negotiations."

Capello´s massive salary spells out the FA's determination to appoint a world-class coach. Because England´s miserable failure to qualify for Euro 2008 has heaped embarrassment them and cost them at least £50million in lost revenues.

The contract will be finalised very shortly and it is expected that Capello will appoint at least three Italians as his coaching staff. His right hand man in Franco Baldini will probably be one of them.

It is also believed that English coaches will play a role in the Capello regime. Brian Barwick, FA Chief Executive,  believes Capello's plans for English coaching staff would be a good thing.

Names thrown into the mix include Stuart Pearce and Alan Shearer.  

Said Baldini,  Capello´s assistant at his previous teams Real Madrid, AC Milan and Juventus: "Capello will be England coach for sure.

"I understand the FA has, in principle, said 'yes' to me doing this job as well. If I do not, I think Capello will still be England coach, but maybe he will be a little less comfortable."

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