New England boss Fabio Capello is being investigated for tax evasion by prosecutors in Italy, it emerged today.
However, the 61-year-old has assured the Football Association that his finances are in order.
The investigation relates to Capello's time as coach of Juventus and is linked to the bribes scandal which has rocked Italian football over the past few years.
Juventus were demoted to Serie B in 2006 after being found guilty by the country's football authorities of bribing match officials.
Italian newspaper Il Giornale claims the inquiry centres on a number of offshore companies set up by Capello and his sons Pierfilippo and Edoardo.
The FA this afternoon said it had known about the probe for some time and was confident that nothing untoward would emerge from the investigation.
"It is our understanding that the Italian tax authorities are currently following a procedure of looking into the finances of a number of high-profile individuals," said an FA spokesman.
"We have spoken to Fabio and his advisors about today's newspaper reports in Italy and they have explained the facts.
"They have also given us their assurances that Fabio Capello's tax payments are in order. The FA have no further comment to make on this subject."
The news has sparked fears that Steve McClaren's successor could be dragged through the Italian courts in an effort to prove his innocence.
Soho Square chiefs will be hoping the probe will not affect Capello's preparation for England's first match in charge, which takes place on February 6 against Switzerland.