Former England national team coach Fabio Capello has been hired to lead Russia and, according to Russian media reports, will earn $12 million annually on his two-year contract.

"We have decided to name Fabio Capello as the new manager of our national team," RFU acting president Nikita Simonyan said. "We await him in Moscow over the next few days for the final details and the signing of the contract," Simonyan told local media on Monday.

The 66-year-old Italian, who quit England in February, will succeed Dutchman Dick Advocaat, whose contract expired after Russia failed to advance past the group phase at Euro 2012.

"I am happy, if contract negotiations go well as I believe they will, it will be a wonderful adventure, as Russia is a great country," said Capello, who has also coached Real Madrid, AC Milan, AS Roma and Juventus.