Cole is resigned to leaving Chelsea after not being offered a new contract and was in tears after the final home game of the season last Sunday.
But Monaco, who have qualified for the Champions League next season after finishing runners-up in Ligue 1, want the experienced 33-year-old to bolster their squad for next season’s campaign.
Express Sport understands approaches have already been made to Cole’s representatives and the player is aware of their interest.
Monaco will match Cole’s £120,000-a-week wages and he will not be paying any income tax on his earnings in the Principality, which would make it a lucrative final pay day.
Cole has other offers, notably from MLS club New York Red Bulls, while Liverpool and Real Madrid are also interested.
Written by Steve Milne
