Real Madrid and Paris Saint-Germain are reportedly poised to open talks with Chelsea defender Ashley Cole in January.
Cole's current contract is due to expire in six months, meaning that the 32-year-old is free to sign a pre-contract agreement with any club outside of England.
Chelsea have so far only been willing to offer Cole a one-year extension, but, according to The Mirror, both Madrid and PSG are prepared to put lucrative three-year deals on the table.
The Stamford Bridge club are understood to be on the lookout for a replacement for Cole.
Earlier this month, they were credited with interest in Portuguese defender Fabio Coentrao.
