Southgate has guided the Three Lions to the first major tournament final since 1966 and their first European Championship final after they beat Denmark 2-1 in extra-time on Wednesday evening, July 7.
Italy will now play England on Sunday, where the two sides will battle it out to be crowned as European champions at Wembley in a historic moment for England
The report also adds that Three Lions captain Kane and England player Sterling will also have their MBEs upgraded should they lift the trophy.
The report claims that those in charge of the honours system view the Euros as being on par with England’s Rugby World Cup and Cricket World Cup triumphs.
After England’s rugby team won the World Cup in 2003, Sportsmail columnist Sir Clive Woodward was knighted for the achievement, while the whole squad were given CBEs, OBEs or MBEs as a result.
More recently, England’s cricket team were given the same honour after their World Cup final win over New Zealand at Lord’s in 2019.