Evidence reportedly implicating eight current and former Premier League managers in taking "bungs" for player transfers will be passed on to the FA - just hours after England boss Sam Allardyce was forced to stand down.
Following a 10-month investigation, The Daily Telegraph claims to have discovered "widespread evidence of corruption in the English game".
The newspaper claims its undercover reporters have filmed meetings with a number of agents, managers and club officials as well as compiling other evidence.
It said a number of agents were recorded boasting about how many managers they had paid.
Information has already been passed to the police, and the Telegraph has also said it will give transcripts of the meetings to the FA.
Allardyce was filmed as part of the newspaper sting apparently trying to broker a £400,000 deal and telling businessmen how to evade strict rules on third-party ownership.
His departure comes just 67 days after he took over from Roy Hodgson, who quit after England's dismal showing in the European Championship.
"I think when you've got a manager who's doing a good job for the national team and makes some unguarded comments which leads him into a situation where his job is no longer tenable, that is sad," said FA chairman Greg Clarke.
In a statement released last night Allardyce said: "It was a great honour for me to be appointed back in July and I am deeply disappointed at this outcome.
"Although it was made clear during the recorded conversations that any proposed arrangements would need The FA's full approval, I recognise I made some comments which have caused embarrassment."
Shortly after taking over the national side on 22 July, Allardyce met a group of people who he believed were representatives of a Far East firm.
However, the 'businessmen' turned out to be undercover reporters carrying out a Daily Telegraph investigation.
They recorded footage which appears to show him telling the reporters it was possible to get around FA rules - enforced since 2008 - that stop third parties owning football players' economic rights.
The practice was also banned by world governing body FIFA in May 2015.
When asked about the rules, Allardyce was filmed on a hidden camera saying: "It's not a problem."
He told the reporters that an unnamed group had been "doing it for years" and "you can still get around it".
The newspaper claims a deal was struck with him worth £400,000.
A statement from the FA said: "Allardyce's conduct, as reported today, was inappropriate of the England manager.
"He accepts he made a significant error of judgement and has apologised.
"However, due to the serious nature of his actions, The FA and Allardyce have mutually agreed to terminate his contract with immediate effect."
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