Pearce has said he would be happy to step in at Euro 2012 if required, but it is understood the FA is ideally looking to appoint Jose Mourinho, Harry Redknapp, Arsene Wenger or Pep Guardiola.
"That's perfectly realistic," he said. "We've got all of our operational plans in place. We can deliver a squad into Poland so it is perfectly possible."
ESPNsoccernet has been informed that Real Madrid boss Mourinho will be sounded out and, if he responds positively, offered the position.
Mourinho is the FA's unofficial choice, although they appreciate there is only an outside chance that they could land the former Chelsea manager, who has intimated that he will quit Real Madrid in the summer and wants to relocate back to London.
The FA had previously attempted to appoint Mourinho following the sacking of Steve McClaren. ESPNsoccernet understands the Portuguese had indicated through third parties that he would be interested in the job at that time, but ultimately rejected the offer of an interview, suggesting the time wasn't right for him to give up day-to-day management at club level. It remains to be seen whether his stance has changed.
All else being equal, it has always been the case that the FA would prefer an Englishman, which would still leave Redknapp in pole position, but it may prove more cost-effective to sign Mourinho than try to sort out a compensation package with Spurs chairman Daniel Levy.
West Brom manager Roy Hodgson is also on the shortlist, and considered the safe pair of hands. Hodgson, unlike Redknapp, also offers vast international experience.
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I personally don't think ALL signs point to Harry (just the media). However, I can't see Mourinho taking the England job.