Joe Cole wants a hefty pay-off to leave Liverpool.

He is seeking a £3.6million pay-off to quit Liverpool next month, says talkSPORT.

Cole is looking for a settlement of around £50,000 a week, which works out at £3.6million - around half of the basic wages Liverpool would have to pay him if he remained at the club until the end of his deal.

QPR and West Ham United are monitoring the situation.