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Allardyce (61) was caught up in a newspaper sting in which he is alleged to have met a bogus consortium of Far East businessmen seeking advice on the Premier League's billion-pound transfer market.
During meetings with undercover reporters from The Daily Telegraph, Allardyce is reported to have criticised his predecessor Roy Hodgson, referring to him as "Woy" and saying he "hasn't got the personality" for public speaking.
Former Bolton Wanderers, West Ham United and Sunderland boss Allardyce replaced Hodgson as England manager in July.