Bellamy is in serious discussions with Burnley over taking charge as head coach ahead of the 2026-27 Championship season.
The Clarets approached the Football Association of Wales with a view to appointing the 46-year-old as Scott Parker’s permanent successor at Turf Moor.
Talks have accelerated significantly in the last 48 hours, with substantial progress made towards reaching a final agreement.
BBC Sport had revealed on 30 April that Bellamy was considered a leading contender to step in following Parker’s sacking from the Championship club.
Early signs suggested that Bellamy was minded to remain in his Wales post and guide the nation through a home nations European Championships in 2028.
However, the former Manchester City, Liverpool and West Ham winger is now giving serious consideration to leaving the FAW behind.
Sources have confirmed to BBC Sport that Burnley are prepared to meet the compensation clause written into Bellamy’s contract with the Welsh governing body.
Bellamy’s potential departure would deal a significant blow to the FAW, who had been hopeful he would remain in charge following his earlier indications of loyalty.
His exit would be a sharp reversal from the public comments he made before Wales’ 1-1 draw with Ghana in Cardiff on 2 June.
“Everything’s in place, I get completely backed and it’s going to give me the opportunity in the next two years to improve again,” Bellamy said ahead of that match.
“Links? I understand it but I don’t look too far. I love what I have here,” he added, insisting his focus remained firmly on international football at the time.
“Wales gave me this opportunity and one or two might not have because I was conscious I haven’t managed before. Wales have given me this opportunity and I’m really grateful for that.”
“I am ambitious, trust me. I want to earn loads and loads of money but there’s a time and now, at this present moment, it just doesn’t feel that time.”
Bellamy was appointed Wales manager in 2024, taking charge of a squad that ultimately failed to qualify for the 2026 World Cup.
Wales were eliminated following a penalty shoot-out defeat against Bosnia and Herzegovina in Cardiff, ending hopes of reaching the tournament.
His contract with the FAW had been structured to run through to 2028, covering the European Championships hosted across England, Scotland, Wales and the Republic of Ireland.
A move to Burnley would mark Bellamy’s return to Turf Moor, where he previously served as assistant manager under Vincent Kompany before the Belgian departed for Bayern Munich.
Bellamy was briefly handed the role of acting head coach following Kompany’s exit to the Bundesliga, though he left the club shortly afterwards.
Should Bellamy complete his departure, former Nottingham Forest, Leicester City and Swansea City manager Steve Cooper is among the names being considered as his replacement with Wales.
Ex-Wolverhampton Wanderers head coach Rob Edwards is also in the frame, having been sacked by Wolves just weeks after the conclusion of the 2025-26 campaign.
Cooper has been without a club since leaving Danish side Brondby earlier this year, leaving him available should the FAW move to open talks.
