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The Football Association has confirmed Fabio Capello has resigned as England manager.
The news comes in the wake of a public row between Capello and the FA regarding the FA's decision to strip John Terry of the England captaincy. On Monday, Capello challenged this decision in the Italian media.
This prompted a meeting between Capello, FA chairman David Bernstein and general secretary Alex Horne at Wembley on Wednesday.
It was after this meeting that the FA released the following statement:
"The Football Association can confirm that Fabio Capello has today resigned as England manager.
"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."
Speaking after the announcement, Bernstein commended the Italian coach, saying: "I would like to stress that during [the] meeting and throughout his time as England manager, Fabio has conducted himself in an extremely professional manner.
"We have accepted Fabio's resignation, agreeing this is the right decision. We would like to thank Fabio for his work with the England team and wish him every success in the future."
Fabio Capello has the strongest record of all England managers, with a win ratio of 66.7%, despite a disastrous World Cup campaign in 2010 which saw his England side dumped out of the competition by Germany in the second round. He had been expected to leave his post after this summer's European Championships, with Tottenham Hotspur boss Harry Redknapp favourite to succeed him.
England are now 2.62 to win Group D at Euro 2012 in the wake of this decision. They are 10.00 to win the tournament outright.
It is believed that Under-21 coach Stuart Pearce will be in charge of England's match against the Netherlands at Wembley on February 29th. Bernstein and the FA will detail more in a press conference scheduled for noon Thursday at Wembley.
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