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Monaco challenge Real Madrid for Chelsea fullback Cole

The race for Chelsea star Ashley Cole is heating up.

The People says AS Monaco are joining Real Madrid and New York Red Bulls in the race for Cole.

Cole could earn around ­£10million a year tax free in the ­principality and a final payday with Monaco - who expect to be in the Champions League next ­season backed by their Russian owner's cash - definitely appeals to the 33-year-old star.

Monaco also have Ashley Cole's former Chelsea team-mate Ricardo Carvalho on their books as well as Colombian super striker Radamel Falcao.

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