Left-back, Ashley Cole’s Chelsea contract expired at the end of the season and he will not be offered a new deal to extend his eight year stay with the club.

Club captain John Terry has already extended his contract by a year and even Frank Lampard is set to be offered a new deal at the club. However, Cole will be allowed to leave on a free after falling down the pecking order this season.

The 33-year-old has attracted attention from a host of clubs with Liverpool, Manchester City and Manchester United hoping to keep him in the Premier League but the likes of Monaco and Inter Milan hoping to lure him away from England.

However, Real Madrid are favourites for his services with Cole’s former manager Carlo Ancelotti pushing for a deal, according to a report published by Metro yesterday. The 2014 Copa del Rey winners are ready to offer Cole a massive £10 million for two years, a deal which Cole may not be able to resist.