Cole could be tempted to the Spanish capital with hefty wages.
Real Madrid are ready to offer Ashley Cole one final pay day after the left-back admitted that he would be leaving Chelsea this summer, according to the Metro.
Los Blancos will tempt the 33-year-old to the Estadio Santiago Bernabeu with the lure of a two-year deal with wages worth £10m.
This is an attractive offer for a player in the latter stages of their career and having previously stated he wants to play in Spain, Cole could well make the move.
Madrid are looking to tie up negotiations quickly with a host of other clubs also interested securing the Englishman’s signature, including Premier League trio Liverpool, Manchester City and Manchester United, as well as AS Monaco and Inter Milan.
However, the Spanish giants also have a further appeal for Cole as their head coach Carlo Ancelotti managed the full-back for two years whilst in charge at the Blues.
Ancelotti was manager at Stamford Bridge between 2009 and 2011 and during that time the Italian guided the west Londoners to the double of league and FA Cup triumphs.
Therefore Cole would be interested in rekindling that relationship with the 54-year-old, as well as getting the opportunity to play abroad for the first time in his career.
The former England international – who retired from national team duty after being excluded from Roy Hodgson’s 2014 World Cup squad last week – has enjoyed a successful career to date.
After winning two league titles and three FA Cups with Arsenal, Cole then moved to west London in 2006 and has since won a further league title, four FA Cups, the League Cup, the Europa League and the Champions League.
Read more Chelsea transfer rumours.