The Daily Mail says Cole wants to stay at Chelsea but for the final throes of his career wants the type of contract that reflects his standing. That means a deal that draws parity with the big earners at the club and that will be around the £200,000 a week mark.
Chelsea are reluctant to pay that for a player his age but know he can leave for free next summer.
PSG have not been shy in spending and Cole is happy to move abroad. Real Madrid and both Milan clubs are keen but again have reservations about the wage he is after. United would pay it but may prefer to wait until he is free.