Capello is set to make a decision on the role in August but Ferdinand insists he will not be too disappointed if someone else gets the nod.
The Manchester United defender would still hope to play a key part and believes it can only be a good thing for England to have a number of leaders in the team.
"A lot of people have been talking about it but it is not the be all and end all for me," he told Sky Sports News.
"I go out and play for my team and try to win trophies.
"I've said many times that the more captains you have on the pitch the better it is for the team.
"At United last season we had a lot of captains no matter who wore the armband, so if that can transpire to the England team then great."
Ferdinand has also revealed his ambition to go into management at the end of his playing career.
The 29-year-old is set to start work on his coaching badges as he considers his options for the future.
"After growing up every day wanting to be a footballer, I'd love to go into a coaching role, maybe a youth team or management," he explained.
"But who knows. I've still got a long way to go in my career. I've just signed a new deal with United.
"Everyone sees a bit of a manager in themselves."