Manchester City are eyeing up a staggering deal to lure Joe Cole to Eastlands, despite reports Arsenal were ready to make him the top earner at the Emirates.
Yesterday reports emerged that the Gunners were prepared to offer Cole up to £135,000 per week but these claims have been quashed according to ESPN Soccernet.
City are reportedly willing to pay the former West Ham man £110,000 per week and an additional £3 million in fees to agents in order to bring Cole to Manchester.
A source told ESPN: “Joe turned down the £80,000 a week offered at Chelsea, but the only club willing to come anywhere near the kind of terms being talked about are Manchester City.
"It should be interesting to see what Joe decides to do when he comes back from the World Cup finals.
"The way I see it, Joe doesn't suit Arsenal's one or two touch football, so it's a mystery why Arsene wants him, while Harry has plenty of attacking options at Spurs,” the source added.
Cole was born in Islington in North London, near to Arsenal, and has a three month old son, so was reportedly looking to stay in the capital. However the money on offer in Manchester could change his views.
The source continued: "Manchester City would be Joe's best bet, certainly for financial reasons, but he would prefer to stay in London.
"If Arsenal paid him what he wanted, though, you wouldn't blame [Cesc] Fabregas for wanting much more!
“But even if Arsenal paid up, they aren't keen on the kind of agents' fees, if it is true that they are as much as the £3 million being talked about, and you couldn't blame them."