The manager, who is already an OBE, is likely to become Sir Gareth for leading the Three Lions to their first final since the 1966 World Cup, according to reports.
A Whitehall source told i that the strongest five-year record for an England manager in years deserved a knighthood.
Meanwhile, The Times claims the coach – who also led England to the World Cup semi-final – will ‘still receive an honour’.
Captain Harry Kane, Raheem Sterling and a number of other important players are also expected to be celebrated for their efforts.
Hundreds of thousands of people had called for a bank holiday if the men’s team clinched glory and ended 55 years of hurt.
Plans are still reportedly hanging in the balance and ‘will be reviewed today’.
Boris Johnson was thought to be considering Friday, August 27 – to coincide with the long weekend at the end of the summer.
It was heartbreak for The Three Lions as their penalty shootout curse struck again last night.
Jordan Pickford made two saves, but Bukayo Saka’s effort was saved by Gianluigi Donnarumma to hand the Italians victory.
Marcus Rashford, Jadon Sancho and Bukayo Saka were flooded with abhorrent slurs and monkey and banana emojis on social media after missing penalties.
An angry statement from The Football Association said any fan who partook in the ‘disgusting behaviour’ was ‘not welcome in following the team’.
The prime minister has condemned those behind the racist comments, saying they ‘should be ashamed of themselves’.
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