City and United to battle it out for Joe Cole

Manchester United and Manchester City are ready to slug it out for Joe Cole.

Cole, 28, is set to leave Chelsea on a free in the summer after talks over a new deal at Stamford Bridge broke down.

The England star is furious at Chelsea's offer of just a one-year contract with the option of another year.

The terms are less than the £80,000-a-week he currently earns as part of a clampdown on huge salaries and the midfielder is demanding £100,000-a-week to stay at the Bridge.

United and City have been alerted to Cole's situation and they are the only two Premier League clubs with the cash to land the former West Ham star.

Sir Alex Ferguson has admired Cole since he was a kid and even invited him and his family to be United's VIP guests at the 1995 FA Cup Final.

Ferguson feels Cole has a great football brain and believes he could flourish at Old Trafford after falling from favour under Carlo Ancelotti.

City are also targeting Cole and the Blues' hierarchy would be prepared to meet his £100,000-a-week wage demands.

They feel they could also lure him north, particularly if they can qualify for the Champions League.