Former England captain Alan Shearer has told BBC News that he hopes Harry Redknapp is appointed as the new England manager in the wake of Fabio Capello's resignation. Capello resigned over the John Terry captain saga earlier today after a meeting with FA officials at Wembley, leaving the national side manager-less just four months before the Euro 2012 tournament in the summer. Speaking just an hour or so after the news of Capello quitting was made public, Shearer revealed that first and foremost the next England manager should be English and that his first choice was Redknapp, with West Brom manager Roy Hodgson named as an alternative candidate. Shearer meanwhile said he was 'shocked and amazed' by Capello's decision as he felt England had a 'decent chance' of being successful at this summer's games. Currently Paddy Power have Harry Redknapp the odds on favourite to become the next England boss with 4/9 odds, with Team GB Olympic games manager Stuart Pearce (believed to be the interim manager for the forthcoming friendly against Holland later this month) second favourite at 6/1. West Brom manger Roy Hodgson is 14/1, behind two foreign coaches in Guss Hiddink (8/1) and Real Madrid boss Jose Mourinho (12/1). Alan Shearer himself is an outside bet at 40/1.