(CNN) -- The Russian Football Union (RFU) has appointed Fabio Capello as the new national team manager. The former England coach will be hoping to revive the fortunes of a promising Russian squad after a disappointing Euro 2012, where they crashed out at the group stages.
"Today we decided to appoint Capello as our national team's new manager," RFU deputy president Nikita Simonyan told ITAR-TASS news agency. Simonyan, the acting chief of the Union, said they expected the Italian "to come to Moscow in the nearest future to finalize the details of his contract and sign it."
Capello is expected in the Russian capital on Wednesday or Thursday.
The 66-year-old has previously coached the English national side to quarterfinals at the 2010 World Cup and 2008 European Championships. He quit in February after the English FA stripped John Terry of the national side's captaincy without his consultation.
Before moving into international football Capello won domestic and continental titles with AC Milan, Juventus, Roma and Spanish side Real Madrid.
Josep Guardiola is one of the world's most wanted coaches after quitting Barcelona, having won 14 trophies in four years. He is one of 13 men on the Russian Football Union's wish list.
Russia seeks top coaching names
Capello had been part of a managerial wish list published by the RFU featuring, amongst others, former Barcelona manager Pep Guardiola, former Liverpool boss Rafa Benitez and World Cup winning Italian manager Marcello Lippi.
Capello told the Italian news agency ANSA that he was "happy and proud" to be taking charge of the Russian national team.
"I'll be happy if my work with the Russian team will go the right way. The cooperation with this team is a great challenge for me as Russia is a great country."
World Soccer Magazine's executive editor Keir Radnedge told CNN the Russian national team "wanted international pedigree, they felt this was important."
"They want pedigree, achievement, which whatever he did or didn't do with England he certainly did at club level," he said.
"They felt he qualified England for two major tournaments and he got them through the group stages. He's now got the international tournament pedigree he didn't have before he got the England job."
Capello replaces the Dutch coach Dick Advocaat, whose Russian team crashed out of Euro 2012 after a surprise defeat by Greece in the group stages. Russia is hosting the 2018 FIFA World Cup and Radnedge believes this had a bearing on Capello's appointment.
"There has been talk that if he gets them through the next two years then he could go on to the hosting in Russia. It is important for the Russians to build their own kudos on the world stage. They've gone to so many tournaments and started like world beaters and really fizzled out halfway along the course."
Capello's first game in charge will be against Northern Ireland on September 7 when Russia begin their campaign to qualify for the 2014 World Cup in Brazil.
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Marcello Lippi, who guided Italy to the 2006 World Cup, is another sought by Russia. He joined Chinese club Guangzhou Evergrande in May.
Lippi's compatriot Fabio Capello is more readily available, having resigned as England coach in February in the wake of the John Terry racism scandal.
Another on Russia's list is Harry Redknapp, who was in line to replace Capello but missed out as Roy Hodgson took England to Euro 2012 -- and he watched the tournament as a TV pundit after being sacked by Tottenham.
Former Argentina and Chile coach Marcelo Bielsa is also being targeted by Russia, but he has indicated he wants to stay with Spanish club Athletic Bilbao -- who he took to last season's Europa League final.
Spaniard Rafael Benitez has not held a coaching position since being sacked by Italian club Inter Milan in December 2010,, but he is also on Russia's list to replace Dick Advocaat.
Advocaat announced before Euro 2012 that he would stand down after the tournament to return to the Netherlands with PSV Eindhoven, but his future would have been in doubt anyway as he failed to take Russia past the group stage.
Advocaat took over from compatriot Guus Hiddink, who is now back in club football with Russia's Anzhi Makhachkala after failing to take the national side to the 2010 World Cup.
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