Caretaker boss Stuart Pearce says he could name England's Euro 2012 squad on or around 10 May if a new manager is not in place.
Pearce would not pick the squad for another manager, and the plan could change if there is a realistic chance of a new appointment later in May.
He is willing to stay on with England for the Euros in Poland and Ukraine and will coach Team GB at the Olympics.
The 50-year-old told BBC Sport he has a Euro 2012 squad in mind.
"It will be a benefit to me whichever way it falls. I'm more than happy to take both tournaments this summer, it would be a great experience for me and I'm more than happy doing both jobs," the former England left-back said.
Tottenham boss Harry Redknapp remains favourite for the England job. The tournament is scheduled to begin on Friday, 8 June - with England's opener against France three days later.
And Pearce thinks a new manager could be appointed shortly before the tournament with little preparation needed.
"Whether it is me taking the squad or someone else the planning is totally done," he said.
"I think they will be quite happy with the decisions that have been made over the last few months, both started off by Fabio [Capello] and continued by myself, but everything is in place. Someone could just walk through the door and take the squad tomorrow."
England have been without a permanent manager since Capello resigned in February after he publicly questioned the Football Associations's decision to strip John Terry of the captaincy.
Redknapp has been the bookmakers' favourite ever since Capello's departure, although the FA says it has not spoken to anyone regarding the job.
Whatever happens with the England job, Pearce has the task of picking the 18-man Team GB Olympic squad, with their opening fixture against Senegal at Old Trafford on 26 July - less than four weeks after the Euro 2012 final.
He said: "Obviously we couldn't pick the squad before the European Championship squad is picked, which will be around 10 May. The Olympics squad will go out sometime possibly the week after that, which will be fair to the players.
"They'll have plenty of warning in regard to a summer break and obviously a fitness programme and obviously with a duty of care to the clubs as well for their pre-season planning."