The 33-year-old has not played for the Azzurri since the 2006 World Cup and announced his international retirement in 2007. Then coach Roberto Donadoni tried to persuade the Rome legend to come out of retirement for the Euro 2008 qualifiers but Totti refused, preferring to concentrate on his club career in the Italian capital.

Marcello Lippi is now in charge of the Italian side and will announce his 30-man preliminary squad on Tuesday with rumours that Totti could be set to make himself available for selection.

However reports in the Italian media suggest that Lippi will not go back to the past and give Totti a chance to add to the 58 caps he has won during his illustrious career and will overlook the Roma legend.

Ranieri made his feeling clear on the issue, saying: “Selfishly I am happy,” as the former Chelsea boss wants his man fit and ready for the domestic season in August, without the possibility of picking up an injury while on World Cup duty this summer.

Italy are the defending World Cup champions but Spain are the favourites at 4-1 to lift the trophy for the first time with Brazil second favourites at 5-1.

England are priced at 11-2, with Argentina on offer at 13-2 to win the World Cup for the first time since 1986 and the Dutch a 12-1 chance to take the trophy.

Italy are in Group F in South Africa along with Paraguay, Slovakia and New Zealand and are 1-14 favourites to come out of the group and make it through to the knock-out phase of the world’s greatest football tournament.

Paraguay are priced at 8-15 to qualify with Slovakia on offer at 11-8 and the Kiwis priced at 8-1 to make it to the last 16.

Another market to watch out for is the ’stage of elimination’ with Italy 9-4 to exit the competition at the last-16 stage and 5-2 to make a quarter-final departure.

The Azzurri are priced at 7-2 to be a losing semi-finalist and 7-1 to suffer the heartbreak of losing in the final.

The Italians are strong favourites to make it out of their group but a 13-2 price has been quoted for Italy to be eliminated from the event at the group stage.

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