Gascoigne, the 37-year-old former midfield dynamo popularly known as Gazza, collapsed at home on Saturday night and was rushed to London's Princess Grace hospital, Britain's best-selling tabloid reported.

"Paul began feeling very unwell two or three days ago. He has pneumonia and a possible collapsed lung. They're testing for other problems," his agent, Alex Armitage, told the newspaper.

"He's serious. It's a possibility he's got 101 thing wrongs with him," Armitage was quoted as saying.

"It's bloody awful, pneumonia. But he's in hospital and being very well looked after with his loved ones all around him," he added.

The report came the day after speculation that the former England midfielder had applied for a coaching job in Australia's newly-formed A-league.

Sydney's Daily Telegraph reported that Gazza had put his hand up to be coach of the Newcastle Jets.

Gascoigne announced earlier this year he wanted to be known as G8 in a bid to distance himself from his reputation as an alcoholic hellraiser who had squandered his talent.

He also quit as player-coach at League Two side Boston saying he intended to study for a coaching qualification.

Gascoigne enjoyed a colourful career with Newcastle, Tottenham, Lazio and Rangers and played 57 times for England.

He had a brief stint as a player-coach in China before a failed attempt at reviving his player career in England with Wolves.