"In a perfect situation, Arsene Wenger is correct. If you could get someone from England, that would be good, everyone in England would prefer that.
"But the most important criteria is to find a manager who is going to be successful and the choices in England are very limited.
"For quite a while now, the England team has not been successful enough to satisfy expectations.
"The demands on England should be the same as they are on Italy, Germany and France, so, there is pressure on the manager to do well.
"You need a guarantee, so the wisest thing to do is get someone who can be successful, whether they come from Mongolia, Italy or Scotland."
As long-time adversaries of Capello, who boasts seven league titles in a star-studded coaching career which encompasses spells with Juventus, AC Milan and Real Madrid, Ferguson and Wenger are perfectly placed to judge whether the 61-year-old has what it takes to be a success.
And while there are not too many issues on which the feisty Scot and the urbane Frenchman agree, Capello's attributes are one of them.
"I have known Fabio for a long time and he is an outstanding candidate," declared the Arsenal manager.
"As far as the technical part of the job is concerned, you do not have to worry about him. He is a strong man, with a strong character.
"He has a clear idea of what he wants and when he is convinced of something he goes to the end of it.
"I believe he is a strong winner and is a guy who is convinced of the methods that he uses.
"I believe a manager is strong when he swims against the tide - I feel he can do that and that is quite a needed quality in this country."