England remain 8/1 shots to win Euro 2012 following the resignation of boss Fabio Capello with immediate effect.

The Italian has gone after a fall-out over the decision to strip John Terry of the captaincy last week, with the Chelsea skipper facing a trial over alleged racist comments made to QPR’s Anton Ferdinand earlier in the season.

The FA must now find a man to prepare the Three Lions for the European Championships and also the programme of international friendlies ahead of the showpiece tournament in Poland and Ukraine this summer.

An FA statement confirming Capello’s resignation was issued by the FA on Wednesday evening.

It read: “The Football Association can confirm that Fabio Capello has today resigned as England Manager.

“This follows a meeting involving FA Chairman David Bernstein, FA General Secretary Alex Horne and Fabio Capello at Wembley Stadium.

“The discussions focused on The FA Board’s decision to remove the England team captaincy from John Terry, and Fabio Capello’s response through an Italian broadcast interview.

“In a meeting for over an hour, Fabio’s resignation was accepted and he will leave the post of England Manager with immediate effect.”

Spain are the current 9/4 favourites to win Euro 2012.

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