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Andrei Arshavin was right: Fabio Capello has been named as Russia's new manager. The on-loan Arsenal forward had leaked out the news over the weekend, and the Russian Football Union has now confirmed it -- although the deal isn't quite done yet:
Today we have decided to name Fabio Capello as the manager of Russia.
We are now waiting in Moscow for the finalisation of the remaining details of the contract before he signs. Once [Capello] and his representatives arrive, we believe they will sign the contract. I think it will happen on Wednesday or Thursday.
After an excellent Euro 2008, where they were eventually knocked out by Spain in the semifinals, Russia have had a hard time of things. They failed to qualify for the 2010 World Cup in South Africa after being knocked out during a playoff, and in Euro 2012 they suffered a shock loss to Greece that prevented them from advancing beyond the group stage despite opening their campaign with a 4-1 demolition of the Czech Republic, who ended up getting to the quarterfinals.
Capello's job will be to turn an underperforming team around, and his track record suggests that he can. Don't expect miracles, but Russia should start playing to their actual level again in fairly short order.