A joint letter from the four associations was sent to FIFA this morning saying Scotland, Wales and Northern Ireland would have no involvement in the Olympic tournament but would not prevent an England team from doing so.

The deal will have to be ratified by FIFA before it is officially confirmed.

As revealed by PA Sport last night, last-ditch talks between the Scottish, Welsh and Northern Irish FAs yesterday led to a breakthrough in the long-running saga.

A source at one of the three associations told PA Sport: "All four associations have signed a letter of intent and that has gone off to FIFA.

"The letter says that we, the three home nations other than England, have not changed our stance but as England are hosting the Games we believe it is possible for them to play under their own auspices."

FIFA had set a deadline of the end of the month for the four home nations to come to an agreement over Olympic representation.

FIFA president Sepp Blatter had already made it clear he would accept an English side representing Britain but had warned the other three associations from becoming involved in case it threatened their separate status in the future.

Today's deal should see the end of a bitter dispute over the Olympic football teams that has raged since 2005 when London won the right to host the Games.

The turning point came this week when the SFA board softened their stance against any move to allow an Olympic team after testing the water internationally.

The feedback was that there was a danger of their intransigence causing them damage in international football circles.

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SFA head of communications Rob Shorthouse confirmed the proposal to let England go it alone had been put forward to FIFA.

Shorthouse told PA Sport: "The four home associations have met. The proposal to let England go it alone has now been put forward to FIFA for their consideration and that will be discussed at the FIFA Congress next week."

He insisted however that it will be Team GB "in name only".

Shorthouse added: "The fundamental point to make is the Scottish FA will not be changing its stance on Team GB.

"We're absolutely against the four nations playing in a unified team, so Scotland, Wales and Northern Ireland's stance hasn't changed.

"We're acknowledging there's very little we can do to stop them going forward.

"We're acknowledging the fact that England are of a mind to put a team forward for the London 2012 Olympics.

"Our view and the view we will be expressing to the football family around the world is that it's Team GB only in name because Scotland, Wales and Northern Ireland will not be involved."

It is understood the SFA were worried their independence within FIFA would be threatened more by just saying 'no' than if they were to agree to this compromise.

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