The Football Association have revealed that the appointment of England manager Roy Hodgson as Fabio Capello's replacement has saved them £2m.

Capello left his position as the Three Lions boss in February 2012, five months before his apparent £6m-a-year contract was due to expire, and was succeeded by Hodgson in May of the same year.

FA General Secretary Alex Horne has admitted to paying Capello a "small" severance package, but has explained how Hodgson's lower salary and England's period without a manger have resulted in an overall seven-figure saving.

"Roy earns less than Fabio did," Horne told journalists at a Wembley press conference. "The deal with Fabio is confidential.

"In reality, because we were without a manager for a period, we didn't pay Fabio any more than we would have done in the period that we didn't have a manager.

"We paid him a small amount of money as severance but it was less than what we would have paid him if he had stayed working until the European Championships, significantly. Roy started work just before the Euros, so we saved money."

These figures are according to the FA's annual accounts, which are accurate up until December 31 of last year.