Capello, who is on Inter Milan's official wanted list, is ready to see out his contract until after Euro 2012 if Richards confirms his value and an agreement he made with ex-Football Association Chairman Lord Triesman.
"I signed a contract with Brian Barwick, then changed it with Lord Triesman, I shook his hand. Now I have to speak with the new chairman, but I think I will be staying," The Sun quoted Capello, as saying.
"It will be clear when I speak with Sir Dave Richards," he added.
Capello had reached a verbal agreement with Lord Triesman before the former FA Chairman was forced to resign, 24 hours before England headed to Austria to start training camp.
Inter Milan President Massimo Moratti has exploited the uncertainty to announce Capello as the "ideal candidate" to replace the club's treble-winning manager Jose Mourinho.
According to reports, Moratti would be willing to treble his £six million annual salary, after tax, in order to bring the former Milan, Roma and Juventus manager back to Italy.
Mourinho, who led Inter to an unprecedented treble of Serie A, the Coppa Italia and the Champions League, was under contract with the club until June 2012, but has decided to join Real Madrid to fulfill his dream of becoming the only coach to win the Champions League with three different clubs.
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