Cole is looking to rebuild his stalled career, accepting the chance to re-sign for the Hammers on a free transfer to escape the difficulties he was experiencing at Liverpool.
"The era we had there will be part of West Ham's history forever now, with so many players who went on to play for England and win league titles with other clubs," said Ferdinand.
"It is unfortunate for West Ham those players did not stay there and their presence get built upon."
"That is all history now I suppose. But Joe Cole has gone there to rewrite a bit of his own history in the coming months."
"It would be good to see him do something positive, but not this week. We want to get through this round."