Real eye Ashley Cole after contract stalls

Real Madrid are reported to be on the verge of making a bid for Ashley Cole after the Chelsea defender rejected a new Blues deal.

England international Cole, has reportedly turned down an offer that would leave he 30,000k-a-week short of the club's top earners.

The 28-year-old Cole signed from Arsenal three years ago, and is said to want to commit himself to Stamford Bridge - but the contract needs to be right.

"Ashley loves Chelsea and is genuinely excited about working with new boss Carlo Ancelotti." A source told British tabloid The Sun

"He wants to give the best years of his career to the club but the deal has to be right for such an important contract.

"He needs to feel as valued as any of the club's other top players."

Left-back Cole, who is currently on 70,000k, is also reported to be on the radar of Champions League holders Barcelona.