The England manager has already replaced one England captain, John Terry, due to allegations in his private life, but now Ferdinand's injury problems have presented him with another conundrum.
Ferdinand made his return for Manchester United against Rangers in the Champions League after five months of knee trouble that saw him miss the 2010 World Cup. Now the defender is ready to return for his country, but Gerrard has excelled as skipper in his absence.
With a tough decision to choose between the two, Capello will wait until he assembles his squad for the vital European Championship tie with Montenegro to first assess the condition of Ferdinand and will then make up his mind.
"This is not such a big problem within the England management team, it is an issue more for the press,'' an FA source told ESPNsoccernet. "Steven Gerrard did extremely well, while Ferdinand has not been with the squad for some time now.
"Ferdinand will be treated almost like a new player because of his long spell of injury and it is good to have him back and fit. But Sir Alex Ferguson has decided that Vidic should be his captain this season, so Fabio Capello will need to look at all the details and them make up his mind when the players are together."