FABIO Capello is confident English football's stock will begin to rise despite the diminishing depth of his squad options.

While the Premier League was able to bask in the glory of an all- English Champions League final in Moscow last week, the Three Lions are just getting used to the idea of not making the European Championships in Austria and Switzerland.

Rather than being the build-up to a tilt at tournament glory in Vienna, tonight's clash with the United States and the weekend trip to Trinidad are merely the next stages in Capello's blueprint.

And with less than 40 per cent of the players who turned out in the final round of league matches three weeks ago qualified to figure for England, it is felt by many the situation will only get worse as major clubs packed with foreign talent continue to excel at the expense of the national team.

With a contract worth £6million over the next four years, it could be argued Capello has a vested interest in being positive about the English cause.

But, speaking publicly in fluent English for the first time since his appointment as Steve McClaren's successor in December, the Italian clearly believes it.

"Good players will play for the best teams in England in the future,"

said Capello.

"It is very important for English football to stay at a high level.

"You have the same problem in Italy and Spain. But the final in Moscow saw eight or nine players who were English and I think the future is better."

It was a problem McClaren addressed many times, always stating the major talent would eventually come through.

Capello does concede the work of academies, which Manchester United boss Sir Alex Ferguson for one thinks are a waste of time and money, is of incalculable value to the England set-up.

He said: "We have to improve them and probably to change the system of the training for the young players."

Whether that uses the Ferguson vision of giving clubs free rein to recruit youngsters as they wish rather than work under present constraints of time and distance seems unlikely given the FA feel the status quo is delivering results.

And at a time when Frank Lampard's future is open to discussion, Capello, while not offering any opinion as to whether he should stay at Chelsea or not in the wake of their European misery, thinks, on balance, it would be better to follow his example and spend some part of their career - in his case management - away from home.

"I think it is a very strong league here but when you play away from England, say for example in Italy, Spain or even Germany, it is a new experience which will help you to come back richer," he said.