Michael Vaughan has resigned as captain of England's one-day side, but insists he wants to be a member of the new squad when it is announced on Friday.
Vaughan will now be free to focus his energies on the Test captaincy
Vaughan said: "I will continue to play one-day cricket for Yorkshire and it is not my intention to retire from one-day international cricket as a player.
"I do, however, appreciate that the new captain will need a period of time to establish his own authority."
Paul Collingwood is the favourite to take over as one-day captain.
Collingwood told Radio Five Live: "There are going to be quite a few names in the hat.
"We've got some good one-day players in the side and it's up to the selectors in the next few days to decide who the next man for the job is.
"It's a stressful job, not an easy job, but if I was asked I would be very happy to take it.
"My one-day and Test form are going pretty well at the moment."
He was backed by former England captain Alec Stewart, who told Five Live: "In my opinion, Paul Collingwood is the best man for the job.
"I know how much it would mean to him to be captain of England.
"And I don't think you will see him have the aspirations to upset the apple cart for the Test captaincy either. He is also a player who can rise to the big occasion."
Vaughan - who remains England's Test captain - stressed he had made the decision to give up the one-day role "some time ago".
He said he had initially planned to make an announcement after the end of the Riverside Test on Tuesday "to avoid it becoming a distraction to the team".
But "intense speculation in the media" had persuaded him to bring the decision forward by 24 hours.
Vaughan recently stated that he believed it best for the same person to lead both the Test and one-day sides, but acknowledged he was unlikely to be around for the next World Cup in 2011.
And despite being England's most successful Test captain of all time in terms of the number of matches won, he has not achieved similar success in the shorter form of the game.
Some have questioned whether he was worth his place in the side as a player. He has not managed a single century in 86 matches and only averages 27 compared to his Test average of 43.
Collingwood is the leading candidate to replace Vaughan
His predecessor Nasser Hussain said he was concerned that if Vaughan continued to try to play both forms of the game his career could be shortened by injuries.
"I personally would like Michael Vaughan's body looked after. He has been an exceptional Test match captain but if he plays in all the one-dayers I don't think he will last," said Hussain.
"I would like to see it handled delicately so he can go out on his own terms. He has made a brilliant leader but it gives someone the opportunity to take that side on."
Vaughan said he had been carefully considering the best way forward for England in one-day cricket since the end of the World Cup.
He added: "Our priority is to build a one-day squad able to compete strongly at the next World Cup and I firmly believe the interests of the team will be best served if I step down.
"I am committed to continuing as England's Test captain for as long as I can be successful in that role.
"I enjoy the job and I also believe that I will be able to form a strong working relationship with whoever is appointed to the one-day captaincy."