The English Football Association will contact potential squad members for Great Britain's Olympic team this week, asking them if they are willing to participate in the Games.
Associations from Scotland, Wales and Northern Ireland are known to be against the idea, as they believe that it could harm their standing as a nation with FIFA.
However, Welsh players such as Gareth Bale and Aaron Ramsey have revealed that they would be willing to play for Team GB.
The FA must pick a squad from the four home nations with the majority of players having to be under the age of 23, although they can register three players who are over that age.
Stuart Pearce will be in charge of the side.