According to Joe Berah, a Clinical Tutor on July 4, 2018 during the Fifa World Cup

It’s a slightly misconstrued concept.

During Euro 96 that was held in England, a song was released by a couple of English comedians (David Baddiel and Frank Skinner) and an English band The Lightning Seeds.

In the song, it talks about how England haven’t won anything for 30 years (now 55) and that football is coming home. When they say it is coming home, they are referring to the fact that football was invented in England, and because the tournament was being held in England, it was returning to its birthplace.

This has been converted to meaning that England are going to win the competition. I.e England winning the World Cup/Euro cup means football is coming home. But this was not the original meaning of the term “it’s coming home”.

Now for Euro 96 and the following few tournaments, the fans were being serious. We genuinely thought that England could win, and football was coming home. We weren’t aware of the shambles that the national setup was actually in. Or maybe we were but were in denial. The song was made with irony in mind, and consistent references were made to how we should be doing much better than we are on the international scene.

The term “it’s coming home” was laid to rest for quite a while, but had made a resurgence for this tournament. However there is a twist; because we have a low profile manager, and a young squad with none of the celebrity superstars that we usually had in the team, expectation is at its lowest for 30 years. So when England fans say “it’s coming home” when we win a game in the World Cup/Euro 2020, it is being said in a tongue-in-cheek fashion. It is tinged with irony and sarcasm.

The main irony is that while expectation is the lowest it’s been for 30 years, the team are behaving and playing like they should have been for all that time. If England had beaten Italy (big if), it will be our most successful tournament since that song was released 25 years ago, and joint most successful tournament since 1966, 55 years of hurt ago

https://www.youtube.com/watch?v=RJqimlFcJsM

https://www.quora.com/Why-do-England-s-fans-say-It-s-coming-home-after-they-win-a-football-game

[Spoken Intro]
I think it's bad news for the English game
We're not creative enough, and we're not positive enough

[Refrain]
It's coming home, it's coming home, it's coming
Football's coming home (We'll go on getting bad results)
It's coming home, it's coming home, it's coming
Football's coming home
It's coming home, it's coming home, it's coming
Football's coming home
It's coming home, it's coming home, it's coming
Football's coming home

[Verse 1]
Everyone seems to know the score, they've seen it all before
They just know, they're so sure
That England's gonna throw it away, gonna blow it away
But I know they can play, 'cause I remember

[Chorus]
Three lions on a shirt
Jules Rimet still gleaming
Thirty years of hurt
Never stopped me dreaming

[Verse 2]
So many jokes, so many sneers
But all those "Oh, so near"s wear you down through the years
But I still see that tackle by Moore and when Lineker scored
Bobby belting the ball, and Nobby dancing

[Chorus]
Three lions on a shirt
Jules Rimet still gleaming
Thirty years of hurt
Never stopped me dreaming

[Bridge]
England have done it, in the last minute of extra time!
What a save, what now!
Good old England, England that couldn't play football!
England have got it in the bag!
I know that was then, but it could be again

[Refrain]
It's coming home, it's coming
Football's coming home
It's coming home, it's coming home, it's coming
Football's coming home
(England have done it)
It's coming home, it's coming home, it's coming
Football's coming home
It's coming home, it's coming home, it's coming
Football's coming home

[Chorus]
(It's coming home) Three lions on a shirt
(It's coming home, it's coming) Jules Rimet still gleaming
(Football's coming home
It's coming home) Thirty years of hurt
(It's coming home, it's coming) Never stopped me dreaming
(Football's coming home
It's coming home) Three lions on a shirt
(It's coming home, it's coming) Jules Rimet still gleaming
(Football's coming home
It's coming home) Thirty years of hurt
(It's coming home, it's coming) Never stopped me dreaming
(Football's coming home
It's coming home) Three lions on a shirt
(It's coming home, it's coming) Jules Rimet still gleaming
(Football's coming home
It's coming home) Thirty years of hurt
(It's coming home, it's coming) Never stopped me dreaming
(Football's coming home)