Cole to leave Chelsea with Man Utd and Real Madrid in the frame

Ashley Cole will reject the one-year contract extension on offer from Chelsea and take the opportunity to speak to clubs in Europe, including Paris Saint-Germain and Real Madrid, in January, while Manchester United are also interested in the England international, the Daily Mail has reported.

The Mail adds that Cole is the first high-profile casualty of a new policy instilled at Stamford Bridge that restricts players over the age of 30 from being handed anything more than a one-year contract. Cole, 31, could be followed out of the exit door by the 34-year-old Frank Lampard, whose contract is also due to expire next summer.

Cole has been at Chelsea since 2006, leaving Arsenal in a swap deal that saw William Gallas move in the opposite direction. In his time at the club, Cole has won the Premier League title once, the FA Cup four times and the Champions League once.

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