QPR boss Redknapp determined to prise Cole away from Liverpool
The People says the Hoops manager has earmarked the Liverpool playmaker as one of the men who could inspire his side's fight against the drop.
He has held talks with the player's representatives over whether a deal can be pushed through.
And Rangers hope that Cole could arrive in west London in January.
A permanent signing has not been ruled out, but the option of taking him on a temporary transfer - and initially offering to pay half his £90,000-a-week wages - is their ideal scenario.